BioRestorative Therapies Enters $1M Revolving Loan Agreement and Appoints New Board Directors

On June 10, 2026, BioRestorative Therapies, Inc. entered into a $1,000,000 Revolving Loan Agreement with Bowery Group LLC. Loans under this facility bear interest at 12% per annum (increasing to 16% upon default) and mature one year from the closing of each loan. Proceeds are intended for general corporate purposes. As a condition of the agreement, significant governance changes occurred. On June 11, 2026, directors Francisco Silva, Nickolay Kukekov, and Patrick F. Williams resigned. They were replaced on June 12, 2026, by Bowery Group designees Mika Grasso, Katharyn Field, and Jatinder Dhaliwal. Mika Grasso will chair the Audit Committee, and Katharyn Field will chair the Nominating Committee. Lance Alstodt remains Chairman of the Board. The agreement also outlines requirements for a 'Qualified Public Equity Offering' of at least $5 million and 'Required Additional Financing' totaling at least $10 million, both requiring approval from the remaining original directors.