AIM ImmunoTech Inc (AIM) has released an update.
AIM ImmunoTech Inc. has secured funding through a private placement by selling an unsecured promissory note for an initial amount of $3,301,250 to Streeterville Capital, LLC, with the company receiving $2,500,000 after discounts and fees. The note, bearing a 10% annual interest compounded daily, is set to mature in 24 months, with options for early repayment by the company and monthly redemption rights for the investor. Default on the agreement could trigger an increased interest rate of up to 22%.
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