secwatch.observer — SEC 8-K summary
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Issuer:     Co-Diagnostics, Inc. (CODX)
CIK:        0001692415
Form:       8-K
Filed at:   2026-10-13T10:10:19+00:00
Accession:  0001493152-26-046676
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692415/000149315226046676/0001493152-26-046676-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692415/000149315226046676/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-046676

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