Valion Bio enters Third Side Letter with 3i, LP for $50,000 Series B Preferred closing
On October 7, 2026, Valion Bio, Inc. and 3i, LP entered into a Third Side Letter under the existing Series B Preferred Purchase Agreement, pursuant to which 3i agreed to purchase 50 Series B Non-Voting Convertible Preferred Shares and Series B Warrants to purchase 1,539 shares of Common Stock at an initial exercise price of $2.5520 per share for an aggregate purchase price of $50,000. The securities are being issued in a private placement in reliance on Section 4(a)(2) of the Securities Act and/or Rule 506(b). C...
Key takeaways
Definitive agreement: Valion Bio entered a Third Side Letter with 3i, LP on October 7, 2026, modifying the April 29, 2025 Series B Preferred Purchase Agreement (as amended December 9, 2025).
Securities issued: The closing covers 50 Series B Non-Voting Convertible Preferred Shares and Series B Warrants for 1,539 Common Stock shares at a $2.5520 initial exercise price.
Consideration: Aggregate purchase price of $50,000, payable in immediately available funds by wire transfer at closing.
Registration exemption: Securities are being issued under Section 4(a)(2) of the Securities Act and/or Rule 506(b), with no public offering.
Closing conditions: Purchaser obligations are subject to satisfaction of conditions in Sections 2.3(b), 2.3(h) and 2.3(l) of the Series B Preferred Purchase Agreement, delivery of share certificates and warrants, and Nasdaq listing compliance.
Price-adjustment trigger: Closing may trigger price adjustments under the Series B, Series C, Note and Note Warrant terms, including adjusted conversion/exercise prices and any additional issuable securities.
Related context: The Third Side Letter is part of broader 2025 financing arrangements with 3i, including a Series C facility of up to $75,000,000 (13,637 shares already purchased for $13,637,000) and a $16,253,147.10 Senior Secured Convertible Note with a warrant for 182,129 Common Stock shares.
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