Avant Technologies acquires Wired4Health assets for $2.2M in secured note and preferred stock

AVAI BIO, INC.

Acquired full-stack software development and cloud services assets from Wired4Health for $2.2M total consideration.
Paid $1.2M via secured promissory note (24 monthly installments of $52,427, 5% interest) and $1M in Series B Convertible Preferred Stock.
Preferred Stock convertible at lesser of $1.00/share or 30-day VWAP, with 4.99% beneficial ownership cap and 25% daily volume leak-out.
Assets include agreements with Sentry Data Systems/Craneware and Respec, Inc., website, employee contracts, and goodwill.
Secured note is collateralized by acquired assets; Seller may file UCC-1 financing statement.

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