Maison Solutions amends senior secured note; interest rate raised to 10%, tightens default triggers

Maison Solutions Inc.

Principal amount ~$15.2M with ~$10.0M outstanding after missed payments; $40k restructuring fee paid to holders.
Interest rate increased to 10% per annum (from prior rate) and default rate set at 14% per annum.
New Events of Default: failure to execute committed LOI for >$10M financing by Dec 2, 2024, or MSS delisting from Nasdaq.
Weekly payment schedule established starting Oct 14, 2024; missed $1.5M Sep 8 payment partially cured with $200k paid.
Issuer and guarantors irrevocably waive all defenses related to unauthorized Conversion, Merger, and Division of Lee Lee.

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