Damon receives Nasdaq MVPHS non-compliance notice; closes dilutive $15M unit offering

Damon Inc.

Nasdaq notified Damon on March 20 that MVPHS was below $15M for 30 consecutive business days; compliance period until Sept 16, 2025.
Closed underwriting with Maxim Group: 126.9M units at $0.13/unit, each unit = 1 common share + 1 Series A warrant; net proceeds ~$15M.
Series A warrants exercisable at $0.195/share, but alternate cashless exercise allows 2.5 shares for no cash – company expects no additional funds from warrant exercise.
Consent agreement with Streeterville: uses ~14% of net proceeds ($2.1M) to prepay note; East West note terminated.
Settled with former advisor Peikin: pays $2.515M total, $1.515M cash, $1M deferred; Peikin surrenders 1,255,230 shares for cancellation.

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