Financing ·
Valion Bio raises $1.5M cash plus $4.7M in debt conversion via Series C preferred and warrants
VBIOValion Bio, Inc.
Valion Bio issued 4,717.73 shares of Series C Non-Voting Convertible Preferred Stock and warrants to purchase 2,524,343 common shares at an initial exercise price of $1.0092 per share. The aggregate transaction value is approximately $4.7 million, consisting of $1.5 million in cash proceeds and $3.2 million retained by purchasers to satisfy overdue cash true-up payments under the Series C Certificate of Designation. Additionally, Valion Bio issued 50 shares of Series B Preferred Stock and warrants for 1,539 common shares at $1.0092 per share for an aggregate purchase price of $50,000 in cash. These securities were sold under exemptions from registration pursuant to Section 4(a)(2) or Rule 506(b). Valion Bio is a biotechnology company focused on developing therapies.