PDS Biotechnology Corp (PDSB) Form 8-K — Sep 4, 2026
PDS Biotechnology entered into a First Amendment to Promissory Note with lender YA II PN, Ltd. on August 31, 2026, restructuring a note issued June 15, 2026 that carries an original principal of $6 million. Under the amended terms, the company must deliver weekly remittance notices of net proceeds from its at-the-market offering program and pay the applicable portion to the holder within one business day, with excess proceeds split 60% to the holder and 40% retained. A new provision requires 100% of net cash proceeds from any future equity or equity-linked financing outside the ATM to be applied as a mandatory deemed redemption to the holder within five business days of receipt.
Key figures
- Debt Amount
- 6000000
- Amendment date
- August 31, 2026
- Nasdaq cure period
- extended from 75 days to 180 days
- Atm proceeds remittance
- weekly notice; applicable portion payable within 1 business day
- Effectiveness condition
- payment in full of the September 14, 2026 installment
- Excess atm proceeds split
- 60% to Holder / 40% retained by Company (only for proceeds exceeding 100% of next installment plus interest)
- Original note issuance date
- June 15, 2026
- Non atm offering proceeds sweep
- 100% of net proceeds applied as mandatory deemed redemption within 5 business days of receipt
Price after filing
Close on the filing date to close N calendar days later (from $0.22). Historical, not a forecast.
AI analysis
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