Neuraxis, INC (NRXS): debt financing — Neuraxis raises $457k via convertible notes; amends Flagstaff $3M SPA

On each of February 9, 2024 and February 14, 2024, the Company entered into securities purchase agreements (the “SPAs”) with a total of two accredited investors (the “Investors”) for the issuance and purchase of convertible promissory notes (the “Notes”) for an aggregate purchase price of $457,000. The Notes bear an interest rate of 8.5% per annum, which shall be payable quarterly by the Company in cash or in shares of the Company’s common stock at the conversion price as defined in the form of the Certificate of Designation of the Series B Convertible Preferred Stock attached as an exhibit to the SPAs. The maturity date of the Notes shall be on the earlier of (i) upon written demand of the Investors occurring on or after twelve (12) months from the date of the Notes in the event that the Series B Preferred Stock has not been duly authorized or (ii) immediately upon the occurrence of an event of default.

On each of February 9, 2024 and February 14, 2024, the Company entered into securities purchase agreements (the "SPAs") with a total of two accredited investors (the "Investors") for the issuance and purchase of convertible promissory notes (the "Notes") for an aggregate purchase price of $457,000.