Indaptus <a href="https://laohu8.com/S/LENZ">Therapeutics</a> Raises $3.4 Million in Additional Private Placement of Convertible Notes and Warrants
Indaptus Therapeutics, Inc., a clinical stage biotechnology company focused on innovative cancer and viral infection treatments, announced an additional sale of approximately $3.4 million in convertible promissory notes and accompanying warrants. This follows a previous sale of $2.3 million, bringing the total raised to $5.7 million. The notes have a 6% annual interest rate and will mature on July 28, 2026. They will convert into common stock either 30 days post a reverse split on Nasdaq or one year from issuance, at 80% of the average closing price over the five days preceding conversion, capped at $11.20 per share. Warrants for 200% of the conversion shares will be issued post-conversion, pending stockholder approval, with a five-year term. The proceeds are intended for research, development, and general corporate purposes. Paulson Investment Company, LLC served as the exclusive placement agent for this offering.
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