Panbela Therapeutics (NASDAQ:PBLA) Issues Tranche B Note Following Agreement with Nant Capital

Panbela Therapeutics, Inc. recently disclosed its entry into a material definitive agreement with Nant Capital, LLC in a Form 8-K filed with the Securities and Exchange Commission. The agreement, dated October 22, 2024, involved the issuance of a senior convertible promissory Tranche A Note for the principal sum of $2,850,000 and an agreement to issue a Tranche B Note for $9,150,000. The company issued the Tranche B Note on November 15, 2024, to Nant Capital, LLC.

This issuance follows a previously disclosed Tranche A Note, which was highlighted in a prior Form 8-K filed on October 28, 2024. The terms of the Agreement, including the issuance of both notes, were incorporated by reference in the recent filing.

The funds acquired from the sale of the Notes are intended for general corporate purposes and to settle existing debts, as previously disclosed. The Tranche B Note terms are detailed in Exhibit 10.1 of the filing.

The Notes were issued as part of a private placement and relied on the exemption from registration under Section 4(a)(2) of the Securities Act of 1933. There were no shares of the company’s common stock issued as part of this transaction.

In light of these recent developments, Panbela Therapeutics advises caution regarding forward-looking statements, recognizing the inherent uncertainties and risks associated with future business conditions. The company emphasized that actual results may differ materially from these forward-looking statements due to various factors detailed in their reports filed with the SEC.

No further financial statements or exhibits were attached to the Form 8-K filing made by Panbela Therapeutics on November 15, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Panbela Therapeutics’s 8K filing here.

About Panbela Therapeutics

Panbela Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of disruptive therapeutics for the treatment of patients with urgent unmet medical needs. The company’s lead product candidates are Ivospemin (SBP-101), a proprietary polyamine analogue, which has completed Phase Ia/Ib clinical trial for the treatment of patients with metastatic pancreatic ductal adenocarcinoma; Flynpovi, a combination of eflornithine (CPP-1X) and sulindac which is in Phase III clinical trials; and Eflornithine, an enzyme-activated irreversible inhibitor of the enzyme ornithine decarboxylase, currently under Phase I/II trial.