International Stem Cell Corp Enters Material Definitive Agreement

TL;DR

ISC just signed a big deal, creating a new financial obligation. Keep an eye on this.

AI Summary

International Stem Cell Corporation (ISC) entered into a Material Definitive Agreement on September 15, 2024. This agreement creates a direct financial obligation for the registrant. The filing was made on September 17, 2024, and pertains to the company's operations as of September 15, 2024.

Why It Matters

This filing indicates a significant new financial commitment or obligation for International Stem Cell Corp, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement and creating a direct financial obligation can introduce new financial risks and uncertainties for the company.

Key Players & Entities

• International Stem Cell Corporation (company) — Registrant
• September 15, 2024 (date) — Date of earliest event reported
• September 17, 2024 (date) — Filing date
• 9745 Businesspark Ave, San Diego, California 92131 (address) — Principal executive offices

FAQ

Key Financial Figures

• $2,900,000 — of the loan (in the principal amount of $2,900,000) from Dr. Semechkin to the Company that
• $200,000 — ginal Note, the Company agreed to repay $200,000 of principal amount and issued to Dr. S
• $2,700,000 — missory note in the principal amount of $2,700,000 (the "Note") with the extended maturity

Filing Documents

• intlstemcell_8k.htm (8-K) — 29KB
• intlstemcell_ex1001.htm (EX-10.1) — 16KB
• 0001683168-24-006436.txt ( ) — 212KB
• isco-20240915.xsd (EX-101.SCH) — 3KB
• isco-20240915_lab.xml (EX-101.LAB) — 33KB
• isco-20240915_pre.xml (EX-101.PRE) — 22KB
• intlstemcell_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. On September 15, 2024, International Stem Cell Corporation (the "Company") and Dr. Andrey Semechkin agreed to extend (until September 15, 2025) the maturity date of the loan (in the principal amount of $2,900,000) from Dr. Semechkin to the Company that had been reflected in a promissory note dated September 15, 2023 (the "Original Note"), and which would have been due on September 15, 2024. In exchange for the Original Note, the Company agreed to repay $200,000 of principal amount and issued to Dr. Semechkin an unsecured, non-convertible promissory note in the principal amount of $2,700,000 (the "Note") with the extended maturity date. Dr. Semechkin is the Company's Co-Chairman and Chief Executive Officer. The outstanding principal amount under the Note accrues interest at a rate of five and a half percent (5.5%) per annum. The Note is due and payable September 15, 2025 but may be pre-paid by the Company without penalty at any time. The foregoing summary of the Note is qualified in its entirety by reference to the full text of the form of Note filed as Exhibit 10.1 to this Current Report on Form 8-K.

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant. The information disclosed in Item 1.01 is incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Form of Note issued on September 15, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERNATIONAL STEM CELL CORPORATION Date: September 16, 2024 By: /s/ Russell Kern Russell Kern Executive Vice President, Chief Scientific Officer and Principal Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR