Qualigen Therapeutics (QLGN) has shared an update.
Qualigen Therapeutics, Inc. has struck a deal with an institutional investor, securing a $2 million loan through the issuance of a Senior Note that carries an 18% annual interest, with repayment due by July 2025. The agreement necessitates prepayments from future financings and has led to changes in the company’s board of directors. Additionally, the recent exercise of a Warrant has increased the company’s common stock to 12,155,830 shares.
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