VSee Health entered into a securities purchase agreement with Labrys for a $336,000 unsecured convertible promissory note, including a $36,000 original issue discount. The note carries a one-time 12% interest charge and matures on June 30, 2027, with optional prepayment within 181 days and a proceeds sweep allowing Labrys to require up to 50% of certain cash inflows for repayment. Conversion may begin after 180 days, a missed amortization payment, or registration, at 75% of the lowest closing bid over the prior 10 trading days, subject to a 4.99% ownership cap. The financing is intended to bolster liquidity with flexible conversion features.
Agreement details:
- Agreement type: Unsecured convertible promissory note financing
- Counterparty: Labrys
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: 1 year, matures Jun 30 2027
- Reason: Strengthen liquidity and provide flexible financing
Original SEC Filing:
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