Nuo Therapeutics, Inc. announced that it expects to receive $0.5 million in funding
November 14, 2019
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Nuo Therapeutics, Inc. (OTCPK:AURX) announced a that it has entered into note purchase agreement to issue 12% senior secured promissory notes for an aggregate gross proceeds of up to $500,000 on November 15, 2019. The company will also issue warrants at an exercise price of $0.40 per share for a term of five years from the closing of the transaction. The transaction will include participation from individual accredited investors. The notes will mature on June 30, 2020 and carry a rate of interest of 12% per annum. The company may prepay the notes in whole or in part. In the event of the default, the rate of interest shall be 15% per annum. The transaction will be closed in one or more tranches prior to March 31, 2020.
On the same day the company raised $50,000 through the issuance of note and warrants exercisable to purchase an aggregate 75,000 shares in its first tranche.
Nuo Therapeutics, Inc. is a regenerative therapies company. The Company is focused on developing and marketing products for chronic wound care primarily within the United States. The Company commercializes cell-based technologies that harness the regenerative capacity of the human body to trigger natural healing. Its flagship product, Aurix, is a biodynamic hematogel that uses a patientâs own platelets and plasma as a catalyst for healing. The Companyâs commercial offering consists of point of care technology for the safe and effective separation of autologous blood to produce a platelet-based therapy for the chronic wound care market. This offering is known as Aurix (the Aurix System), which produces a platelet rich plasma (PRP) gel at the point of care using the patientâs own platelets and plasma sourced from a small draw of peripheral blood. Aurix comprises a natural, endogenous complement of protein and non-protein signal molecules that contribute to effective healing.
NUO THERAPEUTICS, INC. 
