--- title: "Apollomics signs $2.0 million convertible note" url: "https://aibio.space/news/apollomics-signs-2-0-million-convertible-note-chairman-ceo/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-04-01" section: "Debt Financing" tickers: "NASDAQ:APLM" source: "https://www.sec.gov/Archives/edgar/data/1944885/000119312526138117/d142784dex991.htm" summary: "Apollomics signed a $2.0 million unsecured note with its chairman and chief executive, Hung-Wen (Howard) Chen, on March 30, 2026, at 0% interest, which con" --- By the aibio.space news desk. Sources - [Apollomics, Inc. 6-K (2026-04-01)](https://www.sec.gov/Archives/edgar/data/1944885/000119312526138117/d142784dex991.htm) - [Apollomics, Inc. 20-F (2025-04-03): business](https://www.sec.gov/Archives/edgar/data/1944885/000095017025050531/aplm-20241231.htm) [APLM](https://aibio.space/companies/apollomics/) 2026-04-01 # Apollomics signs $2.0 million convertible note with its chairman and CEO Tickers [APLM](https://aibio.space/companies/apollomics/) Apollomics signed a $2.0 million unsecured note with its chairman and chief executive, Hung-Wen (Howard) Chen, on March 30, 2026, at 0% interest, which converts into equity at a 20% discount if the company later raises at least $10.0 million. ## Key facts - **Company**: Apollomics, Inc. (NASDAQ: APLM) - **News type**: Debt Financing - **Primary source**: [Apollomics, Inc. 6-K (2026-04-01)](https://www.sec.gov/Archives/edgar/data/1944885/000119312526138117/d142784dex991.htm) *A downtown skyline with a highway in the foreground. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Apollomics Inc. (Nasdaq: [APLM](https://aibio.space/companies/apollomics/)) announced on April 1, 2026 that it had entered into a $2.0 million unsecured convertible promissory note with Hung-Wen (Howard) Chen, its chairman and chief executive officer. The note is dated March 30, 2026. The company says the $2.0 million is intended to provide working capital for its clinical development programs and general corporate operations. The lender is an insider. Because Mr. Chen is both chairman and chief executive, the note is a related-party transaction. The release says the terms were reviewed and approved by the independent Audit Committee and the board, with Mr. Chen abstaining from the vote. ## The terms The note carries no interest and is unsecured, so the lender holds no collateral against it. The release does not state a maturity date or any repayment amount if no conversion takes place. Conversion is the only exit the release describes. The principal converts automatically into equity securities when the company closes a later equity financing with aggregate gross proceeds of at least $10.0 million. The conversion price is set at a 20% discount to the lowest per-share price issued to investors in that financing. A discount of that kind means the note holder receives more shares for its principal than a new investor paying the full price would receive. The release does not say how many shares the note would convert into at any price. ## The company's rationale The company says the note followed "a comprehensive evaluation" of its financing alternatives and a benchmarking analysis against current market terms for similar bridge financing transactions in the biotechnology sector. Those are the company's own words. The release names no comparable transaction and gives no benchmark figures, so the claim cannot be checked from the release. The company describes the note as a bridge, meaning it is meant to carry the business until a larger financing. The $10.0 million conversion threshold is the size of the financing that would trigger conversion, and the release does not say whether the company expects to raise that amount or when. ## What the release leaves out The release gives no cash balance, net loss, cash burn or runway for any period. It does not say how long the $2.0 million would fund operations, so the size of the note against the company's spending cannot be measured from the release. It also does not say whether any other financing is under discussion. ## The lead program Apollomics describes itself as a clinical-stage biopharmaceutical company focused on oncology therapies. Its lead program is vebreltinib, also called APL-101, a c-Met inhibitor being studied for non-small cell lung cancer and other advanced tumors with c-Met alterations. The release says it is in a Phase 2 multicohort trial in the United States and more than 10 other countries. The release does not report efficacy results from that trial. Apollomics became a publicly traded company on the Nasdaq Capital Market through a business combination with Maxpro Capital Acquisition Corp. that closed on March 29, 2023. The release's list of risks includes government regulations in the United States and China affecting its operations and the continued listing of its securities, the inability to achieve successful clinical results, and the failure to commercialize product candidates. ## Who is named The release names no bank, placement agent, financial adviser, lender agent or counsel for the note. The lender is the company's own chairman and chief executive, and the release names no other party to the transaction. ## What comes next The note converts only if the company closes a financing with at least $10.0 million of aggregate gross proceeds. Until then it stays outstanding, and the release gives no date for such a financing. Any conversion would appear in a later filing, and the new shares issued at the discount would dilute other holders in that filing's share count. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story APLM Apollomics, Inc. NASDAQ ยท United States Open the starter desk ## More in Debt Financing Debt Financing ### [Pelthos amends Horizon venture loan, funds Loans E to H and adds Loans I and J](https://aibio.space/news/pelthos-amends-horizon-venture-loan-funds-loans-e-h-adds-loans/) Oct 30, 2026 Debt Financing ### [Repligen announces $1.0 billion private convertible notes transaction](https://aibio.space/news/repligen-announces-1-0-billion-private-convertible-notes-transaction/) Oct 30, 2026 Debt Financing ### [FOXO to buy Ludwig Enterprises preferred stock with majority voting power](https://aibio.space/news/foxo-buy-ludwig-enterprises-preferred-stock-majority-voting-power/) Oct 29, 2026 --- Source page: https://aibio.space/news/apollomics-signs-2-0-million-convertible-note-chairman-ceo/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Apollomics signs $2.0 million convertible note", 2026-04-01, https://aibio.space/news/apollomics-signs-2-0-million-convertible-note-chairman-ceo/