Precipio, Inc. announced that it has entered into a business loan and security agreement for a private placement with the principal amount of $250,000 on April 19, 2024. The transaction will include participation from new lender, Altbanq Lending LLC. The company has issued credit facility in the transaction.

The loan is secured in nature. The loan carries a 20% interest rate per annum. The company incurred origination fee of $3,750 and legal fee of $1,250 and raised net proceeds of $245,000 in the transaction.

The interest and outstanding principal shall be paid in 52 payments, each in the amount of $5,769.24. The first payment is due April 25, 2024, with subsequent payments each week beginning on the first Friday after the disbursement amount is disbursed.