Filed pursuant to Rule 424(b)(3)
Registration No. 333-273977
PROSPECTUS
Eterna Therapeutics Inc.
Up to 16,754,154 Shares of Common Stock
This prospectus relates to the offering and resale from time to time by the selling stockholders identified in this prospectus (the “Selling Stockholders”) of up to 16,754,154 shares of our common stock, $0.005 par value per share (“common stock”), composed of (i) 2,184,950 shares of common stock issued in a private placement consummated in December 2022 (the “December Private Placement”), (ii) up to 4,369,900 shares of common stock issuable upon exercise of warrants issued to certain Selling Stockholders in such private placement, (iii) up to 3,047,196 shares of common stock issuable upon the conversion of the Company’s 6% Senior Convertible Notes (the “Note Conversion Shares”) that were issued to certain Selling Stockholders in a private placement consummated in July 2023, (iv) up to 1,057,716 shares of common stock that may become issuable upon conversion of capitalized pay-in-kind interest that may accrue through the maturity date of the Notes (the “PIK Interest Conversion Shares” and together with the Note Conversion Shares, the “Conversion Shares”) and (v) up to 6,094,392 shares of common stock issuable upon the exercise of warrants issued to certain Selling Stockholders in such private placement. The foregoing securities issued in the December 2022 Private Placement were acquired by certain Selling Stockholders on December 2, 2022 in a private placement pursuant to a purchase agreement among us and such Selling Stockholders, dated November 23, 2022. The Notes and the warrants issued by us in July 2023 were acquired by certain Selling Stockholders on July 14, 2023 in a private placement pursuant to a purchase agreement among us and such Selling Stockholders, dated July 13, 2023.
We are registering the common stock issued or issuable upon exercise of the warrants issued in December Private Placement pursuant to certain of the Selling Stockholders’ registration rights contained in that certain Registration Rights Agreement, dated December 2, 2022, by and among us and such Selling Stockholders. We are registering the Conversion Shares and the shares of common stock issuable upon exercise of the warrants issued by us in July 2023 pursuant to certain of the Selling Stockholders’ registration rights contained in that certain Registration Rights Agreement, dated July 14, 2023, by and among us and such Selling Stockholders.
The Selling Stockholders may offer, sell or distribute all or a portion of the shares of common stock registered hereby publicly or through private transactions at prevailing market prices or at negotiated pries. We provide more information about how the Selling Stockholders may sell their respective shares of our common stock in the section entitled “Plan of Distribution.”
We will pay certain fees and expenses in connection with the registration of the common stock offered hereby, and we will not receive any proceeds from the Selling Stockholders’ sale of the shares of common stock offered hereby.
Our common stock is listed on the Nasdaq Capital Market under the symbol “ERNA.” On August 11, 2023, the closing price of our common stock was $2.68.
INVESTING IN OUR SECURITIES INVOLVES RISKS THAT ARE DESCRIBED IN THE “RISK FACTORS” SECTION BEGINNING ON PAGE 4 OF THIS PROSPECTUS.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities to be issued under this prospectus or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is August 22, 2023.