Celularity Inc. Extends Loan Agreements with Resorts World Inc and C.V. Starr & Co.

Celularity Inc. (NASDAQ: CELU) recently announced entering into significant binding term sheets with Resorts World Inc Pte Ltd (RWI) and C.V. Starr & Co., Inc. The agreements aim to extend financial arrangements and fortify the company’s financial position.

On February 12, 2025, Celularity Inc. finalized a binding term sheet with Resorts World Inc Pte Ltd, wherein RWI has agreed to an extension on their forbearance agreement concerning a senior secured loan agreement, known as the RWI Second Amended Bridge Loan. This extension allows the company to delay RWI’s exercise of rights upon any defaults until a specified date in February 2026. Additionally, Celularity Inc. agreed to use proceeds from its upcoming public offering to pay RWI outstanding interest amounts and issue a new five-year warrant for RWI to purchase Class A common stock in the future.

Similarly, on the same date, Celularity Inc. secured a binding term sheet with C.V. Starr & Co., Inc., extending a forbearance agreement linked to a loan agreement with Starr. This agreement allows the company to postpone Starr’s exercise of rights in case of defaults until February 2026. As part of the agreement, Celularity Inc. also agreed to use a portion of the proceeds from its next public offering to pay off accrued interest and issue a new five-year warrant for Starr to purchase Class A common stock.

These initiatives are part of Celularity Inc.’s efforts to strengthen its financial position and ensure stability moving forward. By extending loan agreements and addressing outstanding obligations, the company aims to enhance its financial flexibility and address its current financial commitments effectively.

The company’s latest strategic moves highlight a proactive approach towards managing its financial obligations and ensuring a robust financial foundation for future growth and sustainability.

The news of these agreements follows Celularity Inc.’s recent classification as an emerging growth company, further underlining its commitment to financial prudence and strategic planning for sustained success in the market.

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

Celularity Company Profile

Celularity Inc, a clinical-stage biotechnology company, develops off-the-shelf placental-derived allogeneic cell therapies for the treatment of cancer, immune, and infectious diseases. It operates through three segments: Cell Therapy, Degenerative Disease, and BioBanking. The company's lead therapeutic programs include CYCART-19, an allogeneic CAR-T cell for the treatment of non-Hodkin's lymphoma (NHL) and mantle cell lymphoma (MCL); CYNK-001, an allogeneic unmodified natural killer cell that is in Phase I/II clinical trial for the treatment of acute myeloid leukemia (AML); and APPL-001, a genetically modified placental-derived mesenchymal-like adherent stromal cell for the treatment of Crohn's disease.