Financing ·
Karyopharm issues 20,000 preferred shares to satisfy $20M fee obligation under Forbearance Agreement with lenders
KPTIKaryopharm Therapeutics Inc.
Karyopharm Therapeutics Inc. issued 20,000 shares of 0% Series A Convertible Perpetual Preferred Stock to satisfy a $20.0 million fee obligation under a Forbearance Agreement with lenders. The preferred stock carries a liquidation preference of $1,000 per share and is convertible into common stock at $1.62 per share, subject to a cap of 4,520,000 shares pending stockholder approval. The company operates in the biotechnology industry, focusing on drug discovery and development for cancer and other diseases.