On May 1, 2023, Gelesis Holdings, Inc. closed the transaction. The company amended the terms of the transaction. The company issued secured convertible note for gross proceeds of $2 million.

The warrants are exercisable at an exercise price of $0.01820 per warrant to purchase up to 192,307,692 common shares. Pursuant to the amendment, the investor waived the conditions of the transaction. Now, the conversion of the notes and the exercise of the warrants, are no longer subject to the approval of the company's stockholders.