Baird Medical Investment signs US$4.35 million senior OID convertible note deal
BDMD•Baird Medical Investment entered a Sept. 24 agreement with an institutional investor for a US$4,347,826 senior 8% OID convertible note with a 12-month term. The deal includes 110,070 discount shares priced at US$0.79 and a conversion price tied to US$0.9842 or 92% of the lowest seven-day VWAP, subject to a floor.
1. Note terms
Baird Medical entered a securities purchase agreement with an institutional investor on Sept. 24, 2026, for a senior 8% OID convertible promissory note with a 12-month term. The US$4,347,826 note carries no interest unless a default triggers interest of 15% annually, compounded monthly.
2. Conversion and security
The deal includes a 2% original issue discount and 110,070 ordinary shares issued at US$0.79 as discount shares. The conversion price is the lower of US$0.9842 or 92% of the lowest seven-day VWAP, subject to a floor price. The investor received first-priority security over equity in the company's U.S. subsidiary and substantially all U.S.-located assets, with subsidiary guarantees.
