$NBIO News: December 19, 2023 / Nascent Biotech, Inc. (OTCQB:NBIO) ("Nascent Biotech", "Nascent", or the "Company"), a clinical-stage biotechnology Company pioneering the development of monoclonal antibodies targeting treatment of various cancers, is pleased to announce that the Company has completed payment of all outstanding variable convertible debt obligations.
On August 30, 2023, the Company and the Noteholder YA II PN, LLC agreed to terms that fully satisfy the Company's outstanding obligation with respect to the related note. Under the terms of the agreement, the Noteholder did not charge any interest and the obligation is now considered "settled in full" with no conversion to common shares.
"This step is part of our ongoing commitment to prioritize our shareholders' interests and to consistently demonstrate to the market and prospective investors that we hold shareholder value of vital importance when managing our balance sheet," remarked Nascent CEO, Sean Carrick. "Repayment of the principal value of this note at this time eliminates dilution risk with no penalty, averting any potential conversion to common stock that might otherwise adversely impact our loyal stakeholders."
