Published on December 4, 2023
Exhibit 10.5
BRIDGE NOTE
Date: 04/01/2021 |
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| Maker: |
FibroGenesis 18615 Royal Crest Dr. Houston, Harris County, Texas 77058 |
|
| Payee: |
FibroBiologics PO Box 891146 Houston, Harris County, Texas 77289 |
|
| Place for Payment (including county): | ||
| Principal Amount: | Up to $1,000,000.00 to be drawn as needed | |
| Interest on Unpaid Principal: Interest-free Note. |
Terms of Payment: 100% of the principal April 1, 2022, unless extended for an additional six months at the discretion of FibroBiologics.
Maker promises to pay to the order of Payee at the place for payment and according to the terms of payment the principal amount plus interest.
If Maker defaults in the payment of this note, and the default continues after Payee gives Maker notice of the default and the time within which it must be cured, as may be required by law or by written agreement, but in no event less than forty-five (45) days, then Payee may declare the unpaid principal balance on this note immediately due. Maker waives all presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity, protests, and notices of protest, to the extent permitted by law.
Maker is responsible for all obligations represented by this note. When the context requires, singular nouns and pronouns include the plural.
| BY: | /s/ Pete O’Heeron | LENDER: | /s/ Pete O’Heeron | |
| FibroBiologics | FibroGenesis |
Draw Schedule:
| 4-1-2021 | $300,000.00 | ||
| Date | Amount | ||
| 8-5-2021 | $200,000.00 | ||
| Date | Amount | ||
| 9-20-2021 | $200,000.00 | ||
| Date | Amount | ||
| 10-7-2021 | $100,000.00 | ||
| Date | Amount | ||
| 10-18-2021 | $75,000.00 | ||
| Date | Amount | ||
| 11-15-2021 | $100,000.00 | ||
| Date | Amount |