Apollomics Inc. entered into a $2.0 million unsecured convertible promissory note with its CEO to support clinical development programs and general corporate operations.
Key takeaways
The Company secured $2.0 million in bridge financing via an unsecured convertible promissory note with its CEO, Hung-Wen (Howard) Chen.
The Note bears 0% interest and matures 18 months after the issue date of March 30, 2026.
Principal automatically converts into equity at a 20% discount upon a future equity financing raising at least $10.0 million.
The transaction was approved by the Audit Committee and Board, with the CEO abstaining from the vote.
Proceeds are intended for working capital to support clinical development programs and general corporate operations.