Enzo Biochem, Inc. announced that it has entered into Securities Purchase Agreement with each of the purchasers and new investor, JGB Collateral, LLC to issue 10% Original Issue Discount Secured Convertible Debentures with an aggregate principal amount of $7,608,696 on May 19, 2023. The company will also issue warrants to purchase up to 1,000,000 shares of the Company?s common stock, par value $0.01 per share for an exercise price of $2.31 per share, the average of the 3 daily volume weighted average prices of the common stock as defined in the Purchase Agreement prior to the closing date, subject to adjustments as set forth in the warrants, for a total purchase price of $7,000,000. The Purchase Agreement contains customary representations, warranties and covenants.
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- Enzo Biochem, Inc. announced that it expects to receive $7.608696 million in funding from JGB Collateral, LLC