Hepion Pharmaceuticals, Inc. entered into a definitive agreement on September 3, 2026, with Gravitas Capital LP to issue a secured convertible note and a warrant. The transaction involves a principal amount of $500,000.
The convertible note carries an interest rate of 8% per annum, which is payable in kind. The note matures on September 3, 2027. The instrument is secured by all of the assets of the Company under a separate security agreement.
Conversion of the note is permitted at any time on or after September 3, 2026, provided that stockholder approval is obtained for an increase in the authorized shares of Common Stock. The conversion price is set at $0.04 per share.
Simultaneously, the Company issued a warrant to Gravitas Capital LP. This warrant allows the holder to purchase 12,500,000 shares of Common Stock. The warrant is exercisable on or after September 3, 2026, contingent upon stockholder approval for an increase in authorized shares, and expires on or prior to the close of business at 5:00 p.m. (New York City time) on September 3, 2031. The exercise price for the warrant is $0.06 per share.
