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ANEW MEDICAL, INC. (NASDAQ:WENA), a leading U.S. biotechnology company pioneering cell and gene-based treatments for aging and age-related diseases, announces the successful conversion of its convertible promissory notes by investors. This strategic move significantly strengthens ANEW's balance sheet by eliminating over $4 million in long-term debt.
The elimination of over $4 million in long-term debt not only clears ANEW's balance sheet but also significantly increases stockholder equity, positioning the company for future growth and investment opportunities. It also eliminates $600,000 in annual interest payments owed by the company. The average conversion price was approximately $1.08 per share, echoing investors' long-term commitment to the Company.
Posted In: WENA
