Neuraxis raises $3M via convertible notes at 8.5% interest; warrants amended

Neuraxis, INC

Issued ~$3M aggregate principal convertible notes to three institutional investors; 8.5% annual interest payable quarterly.
Notes mature June 21, 2025; convert into Series B Preferred at $2.38/share after stockholder approval and certificate filing.
Proceeds for working capital and corporate purposes; no dividends or payments to affiliates permitted.
Holders of >70% of outstanding 2023 warrants agreed to waive anti-dilution rights in connection with the note issuance.
Stockholder approval for Series B Preferred authorization not yet obtained; conversion delayed until approval.

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