Celularity has completed a major balance sheet restructuring, retiring all $32 million in senior secured debt plus $9.6 million in accrued interest, according to the company. The company said that it entered into an Asset Purchase Agreement with Celeniv Pte. Ltd. to monetize its intellectual property assets, followed by a License Agreement granting exclusive use of the IP for an initial five-year term, with renewal and a five-year repurchase option.
The company said that it received $33,812,230 under the Asset Purchase Agreement, which it used to retire a $27 million loan from one senior lender and a $6.8 million promissory note, previously used to retire the liability to its second senior secured lender. Through the arrangement, Celularity eliminated its lenders’ general security interest in its assets while retaining operational access to the IP, according to the company.
The company said that it also completed an internal realignment, forming six wholly owned operating subsidiaries aligned with its core commercial units: biomaterials, longevity cell therapy, biobanking, contract development and manufacturing, discovery and development, and asset holding. The company claims this restructuring enhances operational clarity and financial flexibility across its business segments.
