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Sigyn Therapeutics, Inc. (OTC:SIGY), a medical device company, disclosed in a press release statement based on a recent SEC filing that it entered into a Convertible Note Purchase Agreement with Lambda Venture Partners, LLC on August 8, 2025. Under the agreement, Sigyn Therapeutics may issue up to $550,000 in aggregate principal amount of one-year 8% convertible promissory notes in exchange for $500,000 in proceeds. The notes are convertible, at the holder’s option, into shares of the company’s common stock at a 35% discount to the lowest traded price during the ten trading days before conversion. No stock purchase warrants were issued as part of the agreement.
On Monday, Sigyn issued the first tranche of notes, totaling $110,000 in principal, and received $100,000 in proceeds from Lambda Venture Partners, consistent with the terms of the agreement. The company stated that these securities were issued in a transaction exempt from registration under Section 4(a)(2) of the Securities Act.
Separately, Sigyn Therapeutics reported the resignation of three directors. On August 8, 2025, Richa Nand and Michael Ryan resigned from the company’s Board of Directors, and on August 7, 2025, Christopher Wetzel resigned as well. The company attributed these resignations to the discontinuation of its directors’ and officers’ liability insurance coverage, which expired on August 4, 2025. Sigyn Therapeutics has not yet secured replacement coverage and is evaluating alternatives. The company noted that the discontinuation was not related to any specific claim or proceeding.
The information in this article is based on a press release statement and disclosures from Sigyn Therapeutics’ Form 8-K filed with the Securities and Exchange Commission.
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