ProPhase Labs closes $3M senior secured convertible notes with warrants at $0.50

ProPhase Labs, Inc.

Notes have 20% original issue discount, secured by Company assets, not convertible for first 4 months.
Investors also receive warrants exercisable at $0.50 per share; up to $3M additional notes available.
Proceeds for working capital, general corporate purposes, and repayment of certain existing debt.
CEO cites potential near-term liquidity events: up to $50M COVID AR collection and possible Nebula Genomics sale.
Company exploring reverse merger crypto treasury strategy leveraging Nebula's blockchain expertise.

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