debt
confidence high
sentiment neutral
materiality 0.60
HealthLynked issues $900K convertible notes at 12% with warrant to CEO's trust
HealthLynked Corp
- Aggregate principal $900,000, net proceeds $855,000 after 5% OID; issued in 10 tranches from July to Sept 2024.
- Notes secured by first priority lien on all assets; convertible at $0.0486/share; interest 12% (18% on default).
- Warrant to purchase 9,259,258 shares at $0.0486/share for 10 years issued to same purchaser.
- Purchaser is Mary S. Dent Gifting Trust, controlled by CEO Dr. Michael Dent; proceeds for working capital.
- Notes mature six months from each advance date; unregistered sale under Section 4(a)(2) and Reg D.