Clene Improves Cash Position and Runway by Securing New Debt Facility to Pay Off Existing Senior Loan

Core Viewpoint - Clene Inc. has secured a new $10 million debt facility to replace the remaining$7.85 million of Avenue Capital debt, which will enhance its cash position and support the new drug application for CNM-Au8 for ALS through an accelerated regulatory pathway [1][4] Group 1: Debt Facility Details - The new debt facility is a secured, partially convertible Note with a principal amount of $10 million, a maturity of eighteen months, and a fixed interest rate of 12$5.67, representing a 130% premium to Clene's closing stock price on the signing day [2] Group 2: Previous Loan Agreement - In May 2021, Clene entered into a Loan and Security Agreement with Avenue Venture Opportunities Fund, borrowing a total of $20 million, with repayment beginning in July 2024 [3] - As of December 2024, Clene has$7 million of principal outstanding under the previous agreement, along with a final payment fee of $0.85 million, totaling approximately$7.9 million including a prepayment penalty [3] Group 3: Company Overview - Clene Inc. is a late clinical-stage biopharmaceutical company focused on treating neurodegenerative diseases, including ALS and multiple sclerosis, through its investigational therapy CNM-Au8 [5] - CNM-Au8 aims to improve mitochondrial health and neuronal function, targeting mitochondrial function and reducing oxidative stress [5][6]