Iridex secures $3.5M convertible note from Lind; potential $1.5M add-on

IRIDEX CORP

Net proceeds ~$3.5M from $4.2M principal senior convertible note to Lind; $1.5M additional note available.
Conversion price $2.44/share (floor $0.39); 24-month term, monthly repayments start after 120 days.
Company may pay in cash (+4% premium) or shares at 90% of avg of 5 lowest VWAPs over 20 trading days.
126,968 incentive shares issued at close; additional shares if initial note not repaid within 180 days.
Company to file resale registration within 30 days and seek stockholder approval for share issuances.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.