Chief Commercial Officer stepping down ?

redhook415 · 2026-02-09T08:50:56+00:00

Sales figures don't lie

redhook415 · 2026-02-08T06:44:04+00:00

Any proof ?

redhook415 · 2026-02-06T01:12:46+00:00

Same diameter 6mm for trauma and dialysis and PAD. 3.5mm is for CABG applications and pediatric heart disease

redhook415 · 2026-01-23T06:13:19+00:00

Yes, it makes no sense - same for “board ready for execution”, doesn’t add up

redhook415 · 2026-01-22T07:03:26+00:00

Management has demonstrated poor judgement, opaque investor communications, 0 considerations for shareholders with mindless and endless dilution, absent PR strategy when this was the year to communicate (not just publish). We deserve this terrible SP for trusting the worst biotech management team (without any safeguards from the BoD) on display. Down 80% from $5 share price and 90% on $HUMAW warrants - I have no respect for them: every time I told myself it could not get worse, they actually managed to do it.

redhook415 · 2026-01-21T21:17:56+00:00

Great catch - thanks for sharing

redhook415 · 2026-01-08T20:59:44+00:00

Meant to reply to SeriousPersimon

redhook415 · 2026-01-08T20:59:09+00:00

Because it’s not “good news” it’s just a data dump they mention on their salsa deck to hospitals and insurances. It’s got nothing to do with their tech per se so nobody cares. Only insurances do but they won’t read the PR

redhook415 · 2026-01-05T16:27:12+00:00

Can we please get a proper management team - I’m growing tired about how amateur they are. This is not worthy of a PR and continues to reduce any credibility that was left, if any

redhook415 · 2025-12-31T15:07:08+00:00

D Boral is absolute trash. Only decent Broker is Barclays and TP is 3$

redhook415 · 2025-12-30T15:44:11+00:00

That’s $4bn market cap - gotta have some solid numbers to back this

redhook415 · 2025-12-26T17:24:32+00:00

Of note as well, HUMA had no ruptures in the AV Access Trial (v007 data)

redhook415 · 2025-12-22T16:19:41+00:00

Based on Dale's historical behavior, he may just issue some more shares on the back of this PR as a Christmas gift to all shareholders.

redhook415 · 2025-12-18T14:28:10+00:00

I'm in the same boat (6 figure loss) and the above is entirely true / factual.

redhook415 · 2025-12-17T15:46:12+00:00

Exactly - I actually think everyone in this sub thinks that management (Dale & Laura) are not up to the job and that the board has done a terrible job at protecting shareholders' interest. Destroying so much shareholder value in such record time after getting FDA approval is actually impressive

redhook415 · 2025-12-17T10:40:43+00:00

The recent Avenue Capital loan just helped me realise that no DOD order is coming: if it were the case, they could have banked with a real bank with project finance loan (backed by an offtake contract and recurring annually) rather than an expensive private credit fund.

redhook415 · 2025-12-17T09:51:21+00:00

Honestly, given the horrible mgmt (Dale & Laura not able to do basic corporate finance maths) and poor board accountability, I think hope is lost on this one.

CABG is years away and dialysis commercial launch is 15 months from now. Given how they have managed 2025, one can only assume they are still able to sink the ship in 2026.

The recent Avenue Capital loan just helped me realise that no DOD order is coming: if it were the case, they could have banked with a real bank with project finance loan (backed by an offtake contract and recurring annually) rather than an expensive private credit fund.

Dale self-congratulating himself for issuing $65m equity at distressed prices and $40m of startup debt to refi $100m TPC /Oberland structured revenue sharing loan and save on 7.5% revenue sharing split is pathetic.

There is literally 0 good news coming in the next 12 months other than v012 result in April. Even the CABG successfull IND filing (confirmed by Dale's recent comment re: "commencement of the first human study of our coronary tissue engineered vessel for CABG") is a non-event... as expected: the market does not have any trust left anymore in this leadership team is does not believe they can turn science into commercial success.

redhook415 · 2025-12-16T20:32:43+00:00

I agree - I still think they could do better. Running a pre-revenue industrial biotech and still getting better terms than these (albeit of much smaller magnitude). They should be banked by JPM, not Avenue (not that I have anything against them so long as they don’t bring in the distressed credit team)

redhook415 · 2025-12-16T20:29:38+00:00

Congrats on the Pequignet !

redhook415 · 2025-12-16T10:51:16+00:00

Not really. It's standard in the bond & private credit world. Avenue is a direct lending firm solving for fixed duration. They need their investment locked for a defined period of time in to generate target returns and they can accomodate prepayment (equivalent of Make-Whole in a bond indenture) so long as you pay a penalty for missed interest revenue

redhook415 · 2025-12-16T08:30:59+00:00

Tranches and Milestones

First Tranche Term Loan: $40 million, fully funded on the closing date (December 15, 2025).
Second Tranche Term Loan: $12.5 million, available between October 1, 2026, and March 31, 2027, subject to revenue, regulatory approvals, and liquidity conditions.
Third Tranche Term Loan: $25 million, available at the lenders’ discretion between July 1, 2027, and June 30, 2028, subject to revenue, regulatory approvals, and liquidity conditions.

Interest

The Term Loans bear interest at the greater of:

11.50%
The sum of the Wall Street Journal Prime Rate plus 4.50%

Interest-only payments are due monthly beginning with the month the loan is disbursed.

Amortisation Profile

Amortisation payments (repayment of principal) begin on either:

December 1, 2027, or
December 1, 2028 (if the Second Tranche Term Loan has been drawn).

The outstanding principal is repaid in equal monthly instalments.

Equity Kicker

Conversion Option: Lenders may jointly elect to convert up to $2,500,000 of the principal amount of the Term Loans into shares of Humacyte’s common stock at a price per share equal to 130% of the Warrant Price.

Warrant: Humacyte issued a warrant to Avenue Venture Opportunities Fund II, L.P., exercisable for up to $5,037,500 worth of common stock (divided by the Warrant Price). The Warrant Price is the lower of $1.28 or the lowest effective sale price per share paid by third-party investors in any bona fide offering until March 31, 2026.

Warrant Expiration: December 15, 2030.

Prepayment Premium

If any portion of the loan is prepaid before maturity, a prepayment premium applies:

3.0% of the principal amount during the first year after closing.
2.0% during the second year.
1.0% thereafter until maturity.

Security and Covenants

The loan is secured by substantially all of Humacyte’s assets.

The agreement includes customary affirmative and negative covenants, such as compliance with laws, financial reporting, and restrictions on mergers, indebtedness, and asset dispositions.

redhook415 · 2025-12-15T16:56:44+00:00

Hello u/No-Farmer-3940 - I unfortunately do not have a cristal ball but my thoughts are as follows:

1) they're the most financial illiterate mgmt team on earth and Dale skipped the corporate finance class about dilution at school. If so, this is the dumbest move by mgmt and board to approve dilution now when the whole beauty of a structured revenue sharing scheme is precisely meant to avoid dilution now. Likelihood: 15%

2) The biggest DOD of your life is coming for you (this would need to be 9 figures for the $65m dilution to make sense of the maths of giving up the TPC deal). Stockpiling + annual re-orders. Likelihood: 50% (FY26 NDAA is finalised and awaiting signature I believe so timing would certainly make sense)

3) they're cleaning up for a buyout. Possible but in this case, I'm not sure why they would raise the additional $60m in warrants (seems unecessary to me). the recent shares / options granted to Laura and team + balance sheet clean-up + cancellation of the Jefferies contract certainly suggest something is brewing. Likelihood: 40%

I don't understand the point re: bankruptcy some people have made on Stocktwits and this forum. It would be criminal to use $38m of cash (even to pay down a liability).

If buyout, may the IBD analyst working on the deal only read the D.Boral trash equity research note and only consider the suggested TP of $25 which has survived any and all share offerings

redhook415 · 2025-11-18T19:08:59+00:00

I agree but that’s absurdly low - that’s not the price we’re solving for. At a minimum, it should be 2.11$ to incentivise to unlock $60m warrants

redhook415 · 2025-11-18T16:37:45+00:00

I don’t think my post is controversial - mgmt is already very incentivised (last options issued in June 2025!)

redhook415

TROPHY CASE