Regen BioPharma, Inc. announced that it has entered into a Securities Purchase Agreement with new lender Coventry Enterprises, LLC for gross proceeds of $148,750 on September 12, 2023. The company issued a 10% unsecured promissory note with a principal amount $175,000 issued at a discount of $26,250. The note is unsecured in nature and bears an interest rate of 10% per annum for eighteen-months for an aggregate guaranteed interest of $26,250 with maturity date March 12, 2024.

The principal amount and interest will be paid in seven equal monthly payments of $28,750 commencing on August 12, 2024 and continuing on the 12th day of each month thereafter until paid in full not later than the maturity date. The note will be convertible into common stock of company only in the event of default. The company has issued the note to an accredited investor pursuant to Section 4(a)(2) and/or Rule 506 of Regulation D under the Securities Act of 1933, as amended.