By Katherine Hamilton
Celularity entered into two binding term sheets for a senior secured term loan and a secured convertible note, adding up to $12 million in new financing.
The cellular medicine company said Thursday it expects initial proceeds of $10 million with the availability of additional funding up to $2 million subject to certain conditions.
The funding is from Philip Barach, the co-founder and former president of DoubleLine Capital, a Los Angeles investment-management firm.
The senior secured term loan has a stated principal amount of $7 million.
The convertible notes provide for aggregate commitments of up to $5 million, issuable in multiple tranches. They are convertible into shares of Celularity's Class A stock at a conversion price of $1.66 a share.
In connection with the transactions, Celularity has agreed to issue warrants to purchase shares of its Class A common stock equal to 33% of the as-converted principal amount. The warrants will become exercisable six months after the issuance and have an exercise price of $2 a share.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 18, 2025 14:33 ET (19:33 GMT)
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