Celularity completed a major balance sheet restructuring and retired all $41.6 million in senior secured debt.
The restructuring involved retiring principal and accrued interest owed to senior secured lenders, Resorts World Inc. Pte. Ltd. and C.V. Starr and Co., Inc.
An Asset Purchase Agreement with Celeniv Pte. Ltd. was entered to monetize intellectual property assets and eliminate the senior secured debt.
Debt Retirement
Celularity retired all principal and accrued interest owed to senior secured lenders, eliminating $41.6 million in debt.
Asset Purchase Agreement
Entered into an agreement with Celeniv to monetize intellectual property assets and eliminate senior secured debt.
Internal Restructuring
Established wholly owned operating subsidiaries for the four commercial businesses.
- The balance sheet restructuring has removed all senior secured debt, providing financial flexibility and potential access to lower-cost financing sources.
- The agreement with Celeniv allows Celularity to retain exclusive use of the intellectual property assets for its core businesses, enhancing operational alignment and future optionality.
Celularity's completion of the balance sheet restructuring marks a significant improvement in financial stability and strategic positioning for the company's future growth and innovation.