Immune Therapeutics Announces Financing and Debt Restructuring Plan
iCrowd Newswire
03 Jun 2021, 02:30 GMT+10
Orlando, Florida, June 02, 2021 Immune Therapeutics Inc. (OTC-PINK: IMUND) (the Company ) announced today that the Company has received and signed a non-binding term sheet to enter into an agreement that would provide working capital and wipe out a significant portion of its long-standing Debt.
The Company received the term sheet from existing Immune Shareholders to provide the funds necessary to complete the restructuring of Immune. According to the agreement, the investors will lend a minimum of $700,000 and a maximum of $1,500,000 to the Company in exchange for non-convertible promissory notes bearing interest at 5%.