VolitionRx breaches market cap covenant on notes; obtains waiver with 10% penalty and conversion adjustment

VOLITIONRX LTD

Breached minimum market capitalization covenant on $7.5M (2025) and $2.4M (2026) convertible notes to Lind.
Lind waived rights to accelerate or foreclose; Company must pay additional 10% of outstanding principal.
Conversion price may be lowered to 90% of avg three lowest VWAPs over 20 trading days, subject to 4.99% cap.
Waiver executed May 21, 2026; avoids immediate default but increases future dilution risk.

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