LegalJul 24, 2026, 04:37 PM
VSee Health Settles Debt Dispute with ADI and M2B
AI Summary
VSee Health, Inc. has entered into a Settlement Agreement and Mutual Release with ADI Funding LLC and M2B Funding Corp. to resolve disputes stemming from an alleged Event of Default on a $271,739.13 Secured Promissory Note. The settlement requires VSee Health to repay the existing note, make a $50,000 cash payment to ADI, and issue new promissory notes totaling $175,000 to ADI and M2B. Additionally, the company will issue 500,000 restricted Common Stock shares to each of ADI and M2B, with the new notes convertible into common stock at a discount.
Key Highlights
- VSee Health entered a Settlement Agreement with ADI Funding LLC and M2B Funding Corp. on July 21, 2026.
- The agreement resolves disputes over an alleged Event of Default on a $271,739.13 Secured Promissory Note to ADI.
- VSee Health will repay the Existing Note within 90 days or upon financing, applying 50-100% of proceeds.
- The company will pay ADI $50,000 cash within three business days.
- VSee Health will issue ADI a $50,000 promissory note and 500,000 restricted Common Stock shares.
- VSee Health will issue M2B a $125,000 promissory note and 500,000 restricted Common Stock shares.
- Settlement Notes mature in six months, bear 0% interest initially, but accrue 18% if unpaid at maturity.
- Notes are convertible into Common Stock at 75% of the lowest 20-day VWAP prior to conversion.
Price Impact
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