'Apollomics secures $2M bridge financing from CEO'

 

• Apollomics (APLM) on Wednesday said that it has entered into a $2.0 million unsecured convertible promissory note with its Chairman and CEO Hung-Wen (Howard) Chen.
• The company said the proceeds will be used for working capital, including supporting clinical development programs and general operations.
• The note carries 0% interest and will automatically convert into equity upon a future financing of at least $10.0 million, at a 20% discount to the lowest share price in that round.
• The transaction was approved by the company’s audit committee and board, with Chen abstaining.
• APLM -5.36% premarket to $15.0.
• Source: Press Release

https://www.msn.com/en-us/news/other/apollomics-secures-2m-bridge-financing-from-ceo/ar-AA1ZUy4F