Regen Biopharma issues $250K promissory note to Coventry; $25K OID, convertible on default

Regen BioPharma Inc

Principal amount $250K; original issue discount $25K, net proceeds $200K.
10% annual interest; ten monthly payments of $27,500 starting Nov 4, 2024, due Sept 4, 2025.
Upon event of default, note converts to common stock at 90% of lowest 20-day trading price before conversion.
Company issued 500K commitment shares; 350K to be returned to treasury if no default occurs.
$152K of proceeds used to repay existing principal and interest to Coventry from a prior note.

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