12% one-year note sold to fund working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 1 – Enumeral Biomedical Holdings, Inc. sold $3.04 million of 12% senior secured convertible promissory notes on July 29, according to an 8-K filed Monday with the Securities and Exchange Commission.
The convertible matures in one year. The note will convert at a price per share equal to 50% of the price per share of securities sold in a future financing. The note may be prepaid at a premium.
Proceeds will be used for working capital and general corporate purposes.
The company develops immunotherapies that help the immune system attack diseased cells.
| Issuer: | Enumeral Biomedical Holdings, Inc.
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| Issue: | Senior secured convertible promissory note
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| Amount: | $3,038,256
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| Maturity: | One year
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| Coupon: | 12%
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| Warrants: | No
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| Settlement date: | July 29
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| Stock symbol: | OTCBB: ENUM
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| Stock price: | $0.20 at close July 28
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| Market capitalization: | $8.85 million
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