GreenLight Biosciences Holdings announced that it has entered into agreement for a private placement for proceeds of $115,000,000 on May 29, 2023. The company will issue Convertible Secured Promissory Notes for proceeds of $85,000,000 and cash for $15,000,000. The company has committed to receive $52,075,000 being inclusive of $15,000,00 in unsecured notes.

The Advance Notes will bear interest at a fixed rate equal to 10% per annum per year. The Advance Notes will mature upon the earlier to occur of a written demand from the holders of a majority of the aggregate principal and May 30, 2024.