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Renovaro Strengthens Balance Sheet Through Debt Conversion and Advances AI-Driven Initiatives

1. Renovaro converts $9.7 million senior debt into equity, enhancing balance sheet. 2. Issuing 53.6 million shares at $0.30 per share improves financial flexibility. 3. Cost-saving program initiated to boost operational efficiency and support innovation. 4. Debt conversion indicates strong confidence from senior debt holders in Renovaro. 5. Focus on AI-driven drug discovery can transform patient care and partnerships.

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FAQ

Why Bullish?

The debt conversion and share issuance positively strengthen Renovaro's financial position, reminiscent of prior successful debt restructuring cases that drove stock prices higher.

How important is it?

The conversion boosts investor confidence and financial stability significantly, likely influencing stock performance positively.

Why Long Term?

The implications of improved financial health and strategic focus will unfold over time, similar to the long-term benefits seen in companies that implemented similar debt equity strategies.

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Renovaro Inc. (NASDAQ:RENB), an AI-driven precision medicine company, today announced that senior debt holders have agreed to convert an aggregate of approximately $9.7 million of outstanding senior debt into convertible debt which they have elected to convert into equity.Under the terms of the agreement, the Company will issue an aggregate of approximately 53.6 million shares of common stock at a conversion price of $0.30 per share. This share issuance includes both the principal amount of the debt, and an inducement provided to the lenders to facilitate the conversion resulting in the full retirement of the $9.7 million in senior debt.This strategic move significantly enhances Renovaro's balance sheet by reducing outstanding debt and interest obligations, positioning the company for greater financial flexibility and long-term growth. The company has also launched a targeted cost-saving program aimed at improving operational efficiency and preserving capital to support its innovation roadmap."The decision by senior debt holders to convert into equity reflects a strong vote of confidence in Renovaro's vision and trajectory," said David Weinstein, Chief Executive Officer of Renovaro. "By fortifying our financial foundation, we are better positioned to accelerate our AI-driven drug discovery and diagnostic platforms that have the potential to transform patient care."The debt conversion initiative, combined with internal cost optimizations, strengthens Renovaro's ability to invest in its proprietary technology stack and scale partnerships in the life sciences and defense sectors. The company remains committed to executing on its strategic objectives and delivering long-term value to shareholders.About Renovaro (NASDAQ:RENB)Renovaro is a forward-looking biotechnology company harnessing the power of artificial intelligence and data science to develop innovative therapies and diagnostics in oncology, infectious disease, and autoimmune disorders. By integrating cutting-edge machine learning with biomedical research, Renovaro aims to dramatically improve treatment outcomes and enable earlier disease detection.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our filings with the SEC for a discussion of these risks.Investor Contact:Nathen FuentesCFO[email protected]Phone NumberCompany Website: www.renovarogroup.comSOURCE: Renovaro Biosciences

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