Neuraxis increases Flagstaff financing to $5M, replaces preferred with convertible note

Neuraxis, INC

Amendment raises Flagstaff investment from $3M to $5M via convertible promissory note.
Note carries 8.5% interest, matures in 15 months, convertible into Series B Preferred at $2.38/share.
Company has received $400,000 to date; 13 additional monthly installments scheduled through March 2025.
Conversion contingent on stockholder approval of Series B Preferred authorization, targeted by Sept 30, 2024.
Proceeds restricted to working capital and general corporate purposes; no dividends or affiliate payments.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Neuraxis, INC amended SPA with Flagstaff International, LLC valued at $5 million (effective 2024-03-22).

Action: amendment
Agreement: equity purchase
Counterparty: Flagstaff International, LLC
Value: $5 million
Effective: 2024-03-22

Exact text from the filing

On March 22, 2024, the Company and Flagstaff entered into the third amendment to the SPA (the “Amendment”) to increase the investment amount from $3 million to $5 million

View on SEC.gov

295 material agreements filed in the last 30 days. Browse all material agreements →

Neuraxis, INC filing history →

Source: SEC EDGAR

accession 0001493152-24-011761

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.