Optimus Healthcare Services, Inc.: debt financing — Optimus Healthcare defaults on $4.4M convertible notes after missing interest payment

Optimus Healthcare Services, Inc.

Failed to pay interest due Jan 9, 2024 for quarter ended Dec 31, 2023 on $4.4M aggregate Notes.
Event of default triggered; Noteholders have not accelerated, demanded payment, or foreclosed.
Agreement in principle reached to amend Notes, but final documentation not yet approved.
Company has sustained operating losses since inception and expects losses to continue.
Management evaluating funding strategies; no assurance of adequate additional financing.

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

Optimus Healthcare Services, Inc. reported a default on convertible notes of $2,200,000 with Noteholders maturing May 25, 2024 and June 7, 2024.

Instrument: convertible notes
Principal: $2,200,000
Counterparty: Noteholders
Maturity: May 25, 2024 and June 7, 2024
Event: default

Exact text from the filing

purchase agreement with certain institutional investors (the “Noteholders”) pursuant to which the Company issued convertible notes in an aggregate principal amount of $ 2,200,000 for an aggregate purchase price of $ 2 million ( the “May 2021 Notes”). On June 7, 2022, the Company entered into a securities purchase agreement with certain

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Source: SEC EDGAR

accession 0001213900-24-003801

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