Business Context and Reporting Period
Company: Bone Biologics Corp
Filing Type: Form 8-K (Current Report)
Date of Report: June 2, 2021
Reporting Period: Event date of June 2, 2021
Status: Emerging Growth Company
Key Financial Metrics
This filing reports a specific financing event rather than periodic financial performance. Consequently, revenue, profit, cash flow, margins, and existing debt levels are not disclosed in this document.
- New Credit Facility: $700,000
- Instrument Type: Convertible Secured Note
- Lender: Hankey Capital LLC
Material Changes
The material change reported is the entry into a Material Definitive Agreement on June 2, 2021. The Company secured a new credit facility of $700,000 from Hankey Capital LLC. The funds are available to be drawn down by the Company upon notice to the lender. This represents a new source of liquidity and a new secured debt obligation.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or management commentary beyond the execution of the Note Purchase Agreement.
Risks and Contingencies: The filing does not explicitly detail risks or contingencies. However, the creation of a "secured" note implies the Company has pledged assets as collateral, which is a material contingency for investors to note.
Unusual Items: None reported beyond the standard financing transaction.
Investor Verification Checklist
- Verify the specific terms of the Convertible Secured Term Note (interest rate, maturity date, conversion price) in Exhibit 10.2.
- Confirm which assets were pledged as security for the $700,000 facility.
- Review the Company's most recent 10-K or 10-Q to assess current liquidity needs and total debt load prior to this new facility.
- Check if the Company has drawn down any portion of the $700,000 facility since June 2, 2021.