Item 1.01 Entry into a Material Definitive Agreement.
Security Agreement and Disbursement Agreement
On
Pursuant to the Security Agreement, DHCD is granted a continuing security
interest in the Assets as collateral for the Loan. Under a priority of liens
agreement dated
Promissory Note
Pursuant to a promissory note to the Security Agreement dated
DHCD has other relationships with the Company, including a loan agreement that
provides for a term loan of
The foregoing descriptions of the Security Agreement, Disbursement Agreement, and Promissory Note do not purport to be complete and are qualified in their entirety by reference to the full text of the Security Agreement, Disbursement Agreement, and Promissory Note, which are filed herewith as Exhibit 10.1, Exhibit 10.2, and Exhibit 10.3 to this Current Report on Form 8-K and are incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 of this Current Report on Form 8-K.
Item 8.01 Other Events.
On
The information furnished in this Item 8.01, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing made by the Company under the Exchange Act or the Securities Act of 1933 (the "Securities Act"), as amended, regardless of any general incorporation language in any such filings, except as shall be expressly set forth by specific reference in such a filing.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number Exhibit Description 10.1 Security Agreement, datedMay 17, 2022 , byClene Nanomedicine, Inc. in favor of theDepartment of Housing of Community Development , a principal department of theState of Maryland . 10.2* Disbursement Agreement, datedMay 17, 2022 , by and betweenClene Nanomedicine, Inc. and theDepartment of Housing of Community Development , a principal department of theState of Maryland . 10.3 Promissory Note, datedMay 17, 2022 , byClene Nanomedicine, Inc. to theDepartment of Housing of Community Development , a principal department of theState of Maryland . 99.1 Press Release, datedMay 19, 2022 , announcingClene's receipt of a$3.0 million loan fromState of Maryland to support development of commercial manufacturing facility. 104 Cover Page Interactive Data File (formatted as Inline XBRL). * Schedules and similar attachments to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. We agree to furnish supplementally a copy of such omitted materials to theSEC upon request. 2
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