VSee Health issues $336K convertible note to Labrys Fund; conversion at 75% of low bid

VSEE HEALTH, INC.

Issued $336K unsecured convertible promissory note (incl. $36K OID) to Labrys Fund II; net proceeds ~$291K after fees.
Note matures June 30, 2027; carries 12% one-time interest; convertible at 75% of lowest closing bid price over prior 10 trading days.
Labrys can require up to 50% of certain cash proceeds to repay note; prepayment option within 181 days at specified percentages.
Conversion limited to 4.99% beneficial ownership; shares issued under Section 4(a)(2) and Regulation D exemption.
As of June 30, 2026, VSee had 48.6M common shares outstanding; no other material changes to capitalization.

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