---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-001791"
form_type: "8-K"
ticker: "HSCS"
cik: "0001468492"
company_name: "HeartSciences Inc."
filed_at: "2023-02-03T23:59:59+00:00"
generated_at: "2026-06-20T00:57:39.698139+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Heart Test Labs amends warrants to allow cashless exercise at $1.00 per share for 10 days

## Summary
- Exercise price temporarily reduced from $4.25 to $1.00 for Feb 3-16, 2023.
- Maximum of 1,669,971 shares can be issued under Bridge Warrants during the limited period.
- Holders may elect cashless exercise receiving one-third of shares otherwise issuable.
- Anti-dilution adjustment provisions removed except for stock splits/dividends.
- The amendment also waives restrictions on issuing securities under the SPA.

## SEC filing metadata
- accession: 0000950170-23-001791
- form_type: 8-K
- ticker: HSCS
- cik: 0001468492
- company_name: HeartSciences Inc.
- filed_at: 2023-02-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468492/000095017023001791/0000950170-23-001791-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468492/000095017023001791/hscs-20230203.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-001791
- JSON: https://secwatch.observer/filing/0000950170-23-001791.json
- Plain text: https://secwatch.observer/filing/0000950170-23-001791.txt

## Key facts
- Material Agreements
  HeartSciences Inc. amended Amendment No. 2 to the Bridge Warrants with the lead investor under the SPA valued at Amendment to Bridge Warrants reducing exercise price to $1.00 for limited period (Feb 3-16, 2023), a (effective 2023-02-03).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: the lead investor under the SPA
  - Value: Amendment to Bridge Warrants reducing exercise price to $1.00 for limited period (Feb 3-16, 2023), a
  - Effective: 2023-02-03
  source text: On February 3, 2023, Heart Test Laboratories, Inc. (the “Company”) entered into Amendment No. 2 (the “Amendment”) to the warrants to purchase shares of the Company’s common stock, par value $0.001 per share (“Common Stock”), issued in the Company’s private placement of securities pursuant to that certain Securities Purchase Agreement dated as of December 22, 2021 (the “SPA,” and such warrants issued thereunder, as previously amended on September 8, 2022, the “Bridge Warrants”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468492/000095017023001791/0000950170-23-001791-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.