HIT•Health in Tech issued a $3 million promissory note to YA II PN, receiving $2.85 million in gross proceeds after a 5% discount. The note bears 8.75% annual interest and converts at $1.5735 per share, subject to adjustments and other limits.
The note was issued on November 2, 2026, under Health in Tech’s standby equity financing. It matures on February 18, 2028, and its interest rate rises to 18% upon certain defaults. Scheduled installments include a 4% payment premium, waived when payments use net proceeds from stock sales under the financing agreement. Conversion is subject to a $0.204 floor, a 4.99% ownership limit and a 13,100,378-share exchange cap.
