Dyadic International (NASDAQ:DYAI) Amends Convertible Promissory Note, Adjusts Conversion Price

On October 4, 2024, Dyadic International, Inc. (the “Company”) made significant changes to its Senior Secured Convertible Promissory Note due March 8, 2027. This amendment, referred to as the “Amendment,” outlines key modifications to the Convertible Notes.

As per the terms of the Amendment, the conversion price for the Convertible Notes has been adjusted to $1.40 per share of the Company’s common stock. Additionally, the Redemption Date, determined as stipulated in the Amendment, is set to occur on any of the 26, 29, and 32-month anniversaries from the original issue date of the Convertible Notes.

It’s important to note that the aforementioned details of the Amendment are a concise summary of its material terms. For a more comprehensive understanding, interested parties are encouraged to refer to the full text of the Amendment. This document can be accessed in Exhibit 4.1 of the Current Report on Form 8-K, with the Amendment attached for reference.

In terms of financial disclosures and additional materials, no further details were shared beyond the Amendment in this particular filing.

As dictated by the requirements of the Securities Exchange Act of 1934, on October 8, 2024, Dyadic International, Inc. officially signed and submitted this report. Mark A. Emalfarb, the Chief Executive Officer of the Company, signed the document on behalf of the registrant.

Investors and stakeholders are advised to review the filed documents for precise and detailed insights into Dyadic International’s recent developments and financial decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Dyadic International’s 8K filing here.

Dyadic International Company Profile

Dyadic International, Inc, a biotechnology platform company, develops, produces, and sells enzymes and other proteins in the United States and internationally. It utilizes C1-cell protein production platform based on an industrially proven microorganism (C1) for the development and production of biologic products including enzymes and other proteins for human and animal health.