NetworkNewsBreaks – Clene Inc. (NASDAQ: CLNN) Se
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Posted On: 12/19/2024 4:25:37 PM
NetworkNewsBreaks – Clene Inc. (NASDAQ: CLNN) Secures $10 Million Debt Facility to Advance Neurodegenerative Disease Treatments
Clene (NASDAQ: CLNN) has announced a $10 million debt facility with three affiliated entities, set to close by December 20, 2024. The 18-month secured, partially convertible note carries a 12% fixed interest rate, with an interest-only period for the first year. Sixty-five percent of the note is convertible into common stock at $5.67 per share, a 130% premium over the stock’s signing day closing price. Proceeds will support Clene’s development of its CNM-Au8 treatment for ALS and neurodegenerative diseases, addressing FDA data requirements for regulatory approval. The company also aims to repay its prior $7.9 million Loan Agreement with Avenue Venture Opportunities Fund.
NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://nnw.fm/CLNN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Clene (NASDAQ: CLNN) has announced a $10 million debt facility with three affiliated entities, set to close by December 20, 2024. The 18-month secured, partially convertible note carries a 12% fixed interest rate, with an interest-only period for the first year. Sixty-five percent of the note is convertible into common stock at $5.67 per share, a 130% premium over the stock’s signing day closing price. Proceeds will support Clene’s development of its CNM-Au8 treatment for ALS and neurodegenerative diseases, addressing FDA data requirements for regulatory approval. The company also aims to repay its prior $7.9 million Loan Agreement with Avenue Venture Opportunities Fund.
NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://nnw.fm/CLNN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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