Co-Diagnostics borrows up to $3.1M from J.J. Astor at 1.35x factor; issues 600,000 commitment shares

Co-Diagnostics, Inc.

Initial $2.1M loan funded Oct 9, 2026; Initial Note principal $2,835,000 at 1.35x factor; 4% origination fee leaves about $2.016M net proceeds.
Company may borrow an extra $1.0M after 60 days via a $1.35M Additional Note; notes repay in 30 weekly installments with a $250,000 minimum cash covenant.
Conversion price is greater of 90% of 10-day low VWAP or Nasdaq Minimum Price of $1.09, floored at 20% of that; default raises principal to 120% plus 19% interest compounded daily.
600,000 commitment shares issued; make-whole shares owed if sold below $0.218; beneficial ownership cap 9.99%, raisable to 19.99%.
100% of ATM net proceeds routed to Astor-controlled account: first $1.0M to lender, then 80/20; ATM program is $7,350,877.68; Maxim earns 5% placement fee.

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