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AEON Biopharma (AEON) has shared an announcement.
AEON Biopharma, Inc. has entered into a Subscription Agreement with Daewoong Pharmaceutical Co., LTD. to issue up to $15 million in senior secured convertible notes, potentially convertible into AEON’s Class A common stock. AEON intends to use the proceeds to advance the clinical development of their primary product candidate ABP-450 and for general corporate purposes. The agreement includes the possibility of Daewoong appointing a director to AEON’s board and stipulates conditions under which the notes can be converted or redeemed. The deal, secured by a first-priority interest in nearly all of AEON’s assets, underscores the company’s strategic financing efforts to bolster its pipeline and ensure operational liquidity.
For an in-depth examination of AEON stock, go to TipRanks’ Stock Analysis page.
