FAQ: Clene's $10M Debt Facility for Neurodegenerative Disease Treatments

What is the purpose of Clene’s $10 million debt facility?

The $10 million debt facility is intended to support Clene’s development of its CNM-Au8 treatment for ALS and neurodegenerative diseases, as well as to repay its prior $7.9 million Loan Agreement with Avenue Venture Opportunities Fund.

How does the debt facility work?

The 18-month secured, partially convertible note carries a 12% fixed interest rate, with an interest-only period for the first year. Sixty-five percent of the note is convertible into common stock at $5.67 per share, a 130% premium over the stock’s signing day closing price.

When is the debt facility set to close?

The debt facility is set to close by December 20, 2024.

What is CNM-Au8?

CNM-Au8 is an investigational first-in-class therapy by Clene that improves central nervous system cells’ survival and function via a mechanism that targets mitochondrial function and the NAD pathway while reducing oxidative stress.

Who is involved in this debt facility?

The debt facility involves Clene (NASDAQ: CLNN) and three affiliated entities. Clene is a late clinical-stage biopharmaceutical company focused on treating neurodegenerative diseases.

Where can I find more information about Clene and this announcement?

More information can be found on Clene’s website at www.Clene.com and the full press release is available at https://ibn.fm/PYUp3.

What are the implications of this debt facility for Clene?

This debt facility provides Clene with the necessary funds to advance its CNM-Au8 treatment towards regulatory approval and to address FDA data requirements, while also allowing the company to repay its existing loan.

How can investors get updates on Clene?

Investors can find the latest news and updates relating to CLNN in the company’s newsroom at https://ibn.fm/CLNN.