Everli issues $7.5M convertible note to Sponsor affiliate at 17.5% interest, due in 12 months

Melar Acquisition Corp. I/Cayman

Everli entered $7.5M secured promissory note with $750K OID, 17.5% annual interest, maturity 12 months
Note is convertible into Melar Class A common stock at a set conversion rate after business combination
Existing Everli and Sponsor notes amended to increase principal from $1.25M to $3.25M each
Deadline for Everli to procure $10M bridge financing extended from Sep 30 to Oct 21, 2025
Note creates no direct financial obligation for Melar; secured by Everli assets

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