VSEE HEALTH, INC. (VSEE): debt financing — Digital Health Acquisition Corp. issues $300K promissory note with warrants and commitment shares for bridge financing

VSEE HEALTH, INC.

Entered SPA with institutional investor; issued $300K promissory note with 16.67% OID, 10% interest, due May 5, 2024.
Issued warrants to purchase up to 26,086 shares at $11.50 per share (5-year term) and 7,000 commitment shares.
VSee and iDoc guaranteed the obligations; subordinated to existing bridge lender.
Related party: issued $200K promissory note to SCS Capital Partners LLC with 10% interest, due May 5, 2024.
PIPE financing triggers accelerated repayment at 110% of principal; proceeds for working capital for business combination.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VSEE HEALTH, INC. incurred loan of $200,000 with SCS Capital Partners LLC at 10% per annum maturing May 5, 2024.

Instrument: loan
Principal: $200,000
Counterparty: SCS Capital Partners LLC
Rate: 10% per annum
Maturity: May 5, 2024
Event: incurrence

Exact text from the filing

On May 5, 2023, the Company issued a promissory note to SCS Capital Partners LLC in the aggregate principal amount of $200,000 (the “SCS Note”). The SCS Note bears interest at a rate of 10% per annum and is due and payable on May 5, 2024.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VSEE HEALTH, INC. incurred loan of $300,000 at 10% per annum maturing May 5, 2024.

Instrument: loan
Principal: $300,000
Rate: 10% per annum
Maturity: May 5, 2024
Event: incurrence

Exact text from the filing

Pursuant to the SPA, the Company issued the Holder a 16.67% original issue discount promissory note, in favor of the Holder, in the aggregate principal amount of $300,000 (the “Promissory Note”).

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10 debt financings filed in the last 30 days. Browse all debt financings →

VSEE HEALTH, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-056767

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