Longevity Health enters settlement financing with Puritan Partners via USD 2.35 million 10% secured convertible notes
Reuters2026/08/14 20:19- Longevity Health entered a settlement with Puritan Partners that refinanced disputed obligations into two 10% Senior Secured Convertible Notes totaling USD 2.35 million.
- Notes mature Feb. 5, 2028; initial conversion price USD 0.5 per share with an alternative price at 80% of a five-day average.
- Debt is guaranteed by subsidiaries, secured by a first-priority lien on substantially all assets, including intellectual property.
- Terms require offering 25% of gross proceeds from certain future financings for prepayment; mandatory prepayment on change of control.
- Default triggers acceleration with a 115% redemption premium; post-default interest rises to 15% with a confession of judgment available to Puritan.
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