Nature's Miracle issues $101K convertible note at 14%; faces Nasdaq delisting deadlines

Nature's Miracle Holding Inc.

Issued $101,200 convertible promissory note with $13,200 OID to an accredited investor, closing Oct 14, 2024.
Note bears 14% one-time interest; 10 monthly payments of $11,536.80 starting Nov 15, 2024.
Conversion only upon default at 25% discount to market price, with a 4.99% beneficial ownership cap.
Proceeds for general working capital; company also disclosed ongoing Nasdaq non-compliance (MVPHS, MVLS, bid price) with deadlines through Nov 20, 2024.
Company must reserve shares equal to 8x conversion; default triggers 150% penalty plus 22% default interest.

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