FibroBiologics, Inc. closed a private placement with Peak One Opportunity Fund, L.P., issuing a $1.2 million principal amount convertible debenture sold for $1.02 million at a 15% original issue discount. The company also issued 125,000 restricted common stock commitment shares and paid a $20,000 fee to the investor. The zero-percent interest debenture matures on October 8, 2027, with interim payments due in April and July 2027. Conversion is permitted only following an Event of Default at a fixed price of $0.78 per share, subject to a cap of 1,671,094 shares. FibroBiologics develops biologics for fibrotic diseases.
