Indaptus Therapeutics, Inc. Announces Sale of $2.3 Million in Private Placement of Convertible Notes and Warrants

Core Points - Indaptus Therapeutics, Inc. announced the sale of approximately $2.3 million in convertible promissory notes and warrants, aiming to raise up to $5 million in total gross proceeds [1][4] - The notes carry an interest rate of 6% per year and will mature on July 28, 2026, with conversion terms linked to a reverse stock split and a maximum conversion price of $0.40 [2] - Warrants will be issued to purchase 200% of the conversion shares, with an exercise price equal to the conversion price of the notes and a term of five years [3] Financial Use - The net proceeds from the offering will be utilized for research and development activities, including funding a Phase 1b/2 clinical trial, as well as for working capital and general corporate purposes [4]