Non-Invasive Monitoring Systems entered into a Note Purchase Agreement and issued a $809,705.75 convertible promissory note to Defender Opportunity to refinance existing debt and support its pending merger. The note bears 11% interest until Nov 12, 2026 and 22% thereafter, matures Dec 31, 2026, and is convertible at $0.01966 per share, with automatic conversion upon closing of the planned Gravitics merger. Proceeds repaid $720,000 in principal and $89,705.75 in accrued interest on insider-held notes. A 4.99% beneficial ownership cap (optionally 9.99%) applies, and the company committed to register resale of conversion shares following the merger.
Agreement details:
- Agreement type: Convertible promissory note and note purchase agreement
- Counterparty: Defender Opportunity
- Signed / Effective: Jun 24 2026 / same
- Duration / Termination: Through Dec 31 2026
- Reason: Repay existing notes and support pending merger
Original SEC Filing:
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