ProPhase Labs raises $2.75M via senior secured convertible notes with 20% OID and warrants

ProPhase Labs, Inc.

Notes have $3.75M face value after 20% OID; net proceeds ~$2.75M; mature July 22, 2026.
Notes bear 10% interest; convertible after 4 months at lower of 80% of trailing 10-day VWAP or fixed max with floor/caps.
Warrants to purchase up to 5.25M shares at $0.50/share for 5 years; reserve may increase to 226M shares after shareholder vote.
CEO and another investor subordinated prior $1M secured loans; security interest covers substantially all assets (excl. certain subsidiaries).
Special meeting of stockholders set for Aug 29, 2025 to vote on authorizing additional shares.

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