Aslan Pharmaceuticals (ASLN) has released an update.
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Aslan Pharmaceuticals has entered into a third amendment and forbearation agreement with its lenders, allowing for certain revisions to their existing Loan, Guaranty, and Security Agreement. A key feature of this amendment is the lenders’ option to convert outstanding loan principal into ordinary shares of the company, subject to a conversion price and limit. The agreement also includes provisions to ensure the converted shares can be sold without registration under SEC rules, aiming to maintain the liquidity of these shares in the market.
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