8-K - CytoDyn Inc. | StockGist

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On March 24, 2026, CytoDyn Inc. and the holders of two secured convertible promissory notes (each with initial principal of $28.5 million) agreed to extend each note's maturity by 36 months to April 5, 2029 and April 23, 2029, respectively. In consideration, the company will make monthly payments totaling $1,000,000 in common stock shares to the noteholders and reduce the annual interest rate on each note to 5%.

Key Takeaways

1Extended maturity of Note 1 ($28.5 million principal) from April 5, 2026 to April 5, 2029

2Extended maturity of Note 2 ($28.5 million principal) from April 23, 2026 to April 23, 2029

3Monthly payments of $1,000,000 total in common stock shares for both Notes through extended maturities

4Stock payment price based on lower of previous trading day closing price or average of previous five trading days closing prices

5Annual interest rate reduced to 5% for each Note

6Agreement executed on March 24, 2026 with Noteholders

Current Report Details

Event Type

Material Agreement

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

Entry into a Material Definitive Agreement(s). On April 2, 2021, the Company entered into a securities purchase agreement pursuant to which the Company issued a

Material Agreement

$28.5M$28.5M$1.0M

Transaction Details

Material Agreement

Parties: CytoDyn Inc., holders of Note 1 and Note 2 (the “Noteholders”)

•Extension of each Note's maturity date by 36 months: Note 1 to April 5, 2029; Note 2 to April 23, 2029
•Monthly payment of $1,000,000 total in shares of common stock covering both Notes, calculated based on lower of (i) previous trading day’s closing price or (ii) average of previous five trading days closing prices, through extended maturity dates
•Annual interest rate for each Note reduced to 5%

Exhibits (1)

8-K