Cerenome agrees to $21.3 million senior secured convertible note financing
On September 4, 2026, Cerenome entered into a securities purchase agreement with an institutional investor for senior secured convertible notes with an aggregate original principal of $21,276,596, with an initial closing expected on or about September 10, 2026. The notes are secured by substantially all company and CNSide assets, carry 8.0% interest and a one-year maturity, and convert into common stock, and a royalty of 2.5% of CNSide gross revenues is expected to be paid to the investor, so the financing adds secured debt, a revenue-linked payment and potential share dilution for shareholders.
Key points
- Aggregate original principal of $21,276,596, including $3,191,489 Initial Notes, $2,127,660 Second Notes and $15,957,447 Additional Notes.
- Expected gross proceeds of $3,000,000 at the initial closing on or about September 10, 2026, before legal fees and transaction expenses.
- Notes carry 8.0% interest and a 6.0% original issue discount, mature one year after issuance, and have an initial conversion price of $2.74 per share with a $0.50 floor.
- Quarterly royalty of 2.5% of CNSide gross revenues, guaranteed by Cerenome, remains in effect until the notes are paid in full.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 10, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.