FibroBiologics announces payoff of outstanding debt

FibroBiologics (FBLG) has paid all amounts outstanding under the convertible promissory notes issued to YA II PN, pursuant to the Standby Equity Purchase Agreement entered into on December 20, 2024 between the Company and Yorkville. The SEPA allows the Company, subject to customary conditions, to sell up to $25M in the aggregate of its common stock to Yorkville over the course of two years. Yorkville advanced to FibroBiologics the first $15M available under the SEPA in three equal tranches of Notes. These Notes are no longer outstanding and there will be no further conversions into shares of the Company’s common stock. The SEPA remains in place until December 20, 2026, allowing FibroBiologics, at its discretion, to sell an additional $10M of its common stock to Yorkville, subject to certain conditions.