ANEW MEDICAL, INC. Achieves Debt-Free Status, Boosts Financial Flexibility
ANEW MEDICAL, INC. (WENA)
Company Research
Source: GlobeNewswire
NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- 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. “This debt conversion reflects the strong confidence our investors have in ANEW’s growth potential and strategic direction,” said Jeffrey LeBlanc, ANEW’s Chief Financial Officer. “By eme
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WENA
Sec Filings
- 9/13/24 - Form S-1/A
- 9/5/24 - Form S-1
- 8/30/24 - Form 8-K
- WENA's page on the SEC website