Qualigen Therapeutics (QLGN) has provided an announcement.
Qualigen Therapeutics, Inc. has struck a financing deal with an institutional investor, receiving a $2,000,000 unsecured loan evidenced by a Senior Note with an 18% annual interest rate, maturing on July 8, 2025. The agreement stipulates mandatory prepayments from future financings and necessitates board changes. Concurrently, the company’s outstanding common stock has increased to 11,382,830 shares following the conversion of a senior convertible debenture and the exercise of warrants.
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