PanGIA Biotech, Inc., a Florida-based company developing diagnostic solutions focused on early cancer detection, completed a private placement of convertible promissory notes to accredited investors. The notes were issued at a 10% original issue discount with 100% warrant coverage, mature 12 months from issuance, and bear interest at 10% per annum. The notes automatically convert upon a qualified underwritten public financing at a price equal to 80% of the qualified financing price.
An initial closing of the offering ($1,030,000) occurred on April 8, 2026, with a second and final closing ($550,000) held on April 29, 2026. Proceeds will be used for working capital and general corporate purposes as the company advances clinical validation of its PanGIA Prostate Assay and broader oncology diagnostics pipeline toward U.S. commercialization. WestPark Capital acted as placement agent.
Lucosky Brookman LLP represented PanGIA Biotech in connection with the transaction.
