Business Context and Reporting Period
Bone Biologics Corp, an emerging growth company incorporated in Delaware, filed this Form 8-K on September 19, 2019. The report details the entry into a material definitive agreement to secure financing.
Key Financial Metrics
The filing discloses the establishment of a new credit facility but does not provide historical revenue, profit, cash flow, or margin data.
- Debt Facility: $1,100,000 credit facility.
- Instrument Type: Convertible secured note.
- Lender: Hankey Capital LLC.
- Liquidity Impact: Funds are available to be drawn down by the Company upon notice to the lender.
Material Changes
The primary material change is the execution of a Note Purchase Agreement and a Convertible Secured Term Note with Hankey Capital LLC, effective September 19, 2019. This represents a new source of debt financing for the Company.
Outlook, Risks, and Management Commentary
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard disclosure of the new debt obligation. The agreement allows for immediate access to capital upon notice.
Investor Verification Checklist
- Verify the specific interest rate, conversion price, and maturity date of the convertible secured note (details not included in this summary text).
- Review the full text of Exhibit 10.1 (Note Purchase Agreement) and Exhibit 10.2 (Convertible Secured Term Note) for covenants and default provisions.
- Confirm the Company's current cash position to assess the immediate necessity of drawing down the $1,100,000 facility.
- Check for any subsequent filings regarding the actual drawdown of funds or conversion of the note.