---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-047089"
form_type: "8-K/A"
ticker: "CODX"
cik: "0001692415"
company_name: "Co-Diagnostics, Inc."
filed_at: "2026-10-15T10:10:23+00:00"
generated_at: "2026-10-15T10:15:16.714194+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Co-Diagnostics issues $2.835M J.J. Astor secured convertible note; pledges all ATM proceeds to lender

## Summary
- J.J. Astor & Co. funded a $2.1M initial loan on Oct 9, 2026; Co-Diagnostics issued a $2.835M principal note (1.35x factor rate), netting ~$2.016M after a 4% origination fee.
- Optional $1.0M second tranche after 60 days comes via a $1.35M note. Notes repay in 30 weekly installments, secured by a senior lien on substantially all assets; $250K minimum cash covenant.
- Conversion price is 90% of the lowest 10-day VWAP (80% after default), floored at 20% of the Nasdaq minimum price; default raises principal to 120% plus 19% default interest, compounded daily.
- Issued 600,000 commitment shares; make-whole shares due if sold below $0.218. Lender capped at 9.99% beneficial ownership, raisable to 19.99% on 61 days' notice.
- All ATM net proceeds route through a DACA account at East West Bank: first $1M to Astor, then 80/20 lender/company until weekly payments clear, then 25/75. Maxim gets a 5% placement fee.

## SEC filing metadata
- accession: 0001493152-26-047089
- form_type: 8-K/A
- ticker: CODX
- cik: 0001692415
- company_name: Co-Diagnostics, Inc.
- filed_at: 2026-10-15T10:10:23+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692415/000149315226047089/0001493152-26-047089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692415/000149315226047089/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-047089
- JSON: https://secwatch.observer/filing/0001493152-26-047089.json
- Plain text: https://secwatch.observer/filing/0001493152-26-047089.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.