Scienture announces repayment, conversion of outstanding debentures

SCIENTURE (SCNX) entered into an agreement with Arena Finance Markets, LP and Arena Special Opportunities III to fully discharge all outstanding balances on the secured convertible debentures previously issued to the Arena Investors by the Company. Under the terms of the Agreement, the Company and the Arena Investors agreed to amend Section 4(b) of the Debentures to revise the conversion price to $2.4861 per share of common stock. In connection with this amendment, the Arena Investors have agreed to convert the remaining amounts owed under the Debentures into shares of the Company’s common stock. Following the full repayment and conversion and without any further action required by the parties, all obligations under the Debentures and related transaction documents have been deemed paid in full and discharged, except for limited surviving obligations under previously disclosed agreements. In addition, the Debentures and associated transaction documents have been terminated, and all liens, pledges, and security interests previously granted to the Arena Investors as collateral will be automatically and irrevocably released. The Arena Investors have no further funding obligations or credit commitments to the Company.