Harvard Apparatus Regenerative Technology (HRGN) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Harvard Apparatus Regenerative Technology, Inc. has secured a $500,000 bridge loan from its CEO Junli He, with an 8% annual interest rate. This loan is set to mature on the earlier of two events: either the company’s next significant capital raise of at least $5 million or by February 1, 2025. The agreement includes an optional conversion feature, standard covenants, and default terms to protect the lender’s interests.
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For a comprehensive understanding of the announcement, you can read the full document here.