InvestmentMay 29, 2026, 05:32 PM
Wellgistics Health Raises $16.9M via Convertible Notes & Warrants
AI Summary
Wellgistics Health, Inc. secured $16,906,250 in new funding through a Securities Purchase Agreement, issuing convertible promissory notes with an aggregate principal amount of $21,132,812.50 and warrants to accredited investors. The notes bear 0% interest, mature in 12 months, and are convertible into common stock or Series A Preferred Stock. Additionally, holders of a majority of the company's common shares, totaling 1,333,930 shares, entered into a 90-day lock-up agreement, demonstrating shareholder confidence in the company's growth strategy.
Key Highlights
- Wellgistics Health raised $16,906,250 in cash from accredited investors.
- Issued convertible promissory notes with a $21,132,812.50 aggregate principal amount.
- Notes were issued at a 20% original issue discount.
- Notes mature in 12 months and bear 0% interest.
- Convertible into common stock at $6.00/share or market price (initial floor $1.00).
- Mandatory conversion into Series A Preferred Stock with 10% annual dividends.
- Holders of 1,333,930 common shares agreed to a 90-day lock-up.
- Company will seek stockholder approval for issuances exceeding 19.99% exchange cap.
Price Impact
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