09/16/2025 | Press release | Distributed by Public on 09/16/2025 07:46
Item 1.01. Entry into a Material Definitive Agreement.
On September 15, 2025, Qualigen Therapeutics, Inc. (the "Company") entered into Amendment No. 1 (the "Amendment") to the Amended and Restated Secured Demand Promissory Note dated August 21, 2025 (the "Amended and Restated Note") with Marizyme, Inc. The Amendment corrects the maturity date of the Amended and Restated Note to August 21, 2026, increases the "Advance" and corresponding principal amount outstanding by $75,000, resulting in a revised outstanding principal balance of $4,526,462.18, and provides that the additional advance accrues interest at the rate set forth in the Amended and Restated Note. The Amendment also reaffirms that the Company's obligations remain secured under the existing Security Agreement. The foregoing description of the Amendment and the transactions contemplated thereby does not purport to be complete and is only a draft summary, and it is qualified in its entirety by reference to Exhibit 10.2, which is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 above is incorporated herein by reference.