RegeneRx Biopharmaceuticals, Inc. announced it has entered into a convertible note and warrant purchase agreement for gross proceeds of $50,000 on July 3, 2023. The transaction included participation from returning investor, Essetifin S.p.A. and convertible promissory note in a principal amount of $50,000, which may be converted into shares of common stock at an initial conversion price of $0.02 per share at any time commencing six months after the date of issuance of 2023 convertible note and a warrant to acquire up to 3,750,000 shares of common stock at an exercise price of $0.02 per share, which may be exercised at any time commencing six months after the date of issuance and expires July 2, 2028 the 2023 warrant. The note accrues interest at a rate of 5% per annum and is due, if not earlier converted at the option of the holder to common stock, on June 11, 2028.
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- RegeneRx Biopharmaceuticals, Inc. announced that it has received $0.05 million in funding from Essetifin S.p.A.