Co-Diagnostics enters loan deal with J.J. Astor for up to $3.1 million funding

PUBT · 1d ago
Co-Diagnostics enters loan deal with J.J. Astor for up to $3.1 million funding
  • Co-Diagnostics entered a loan agreement with J.J. Astor on Oct. 9, 2026 for up to USD 3.1 million.
  • Initial funding totaled USD 2.1 million; it issued a senior secured convertible installment promissory note with USD 2.835 million original principal.
  • Lender withheld a 4% origination fee; net cash proceeds were about USD 2.016 million before other transaction expenses.
  • Company can elect an additional USD 1 million loan after 60 days; it would issue a USD 1.35 million note.
  • Notes carry a 1.35 factor rate; repayment runs through 30 weekly installments; proceeds earmarked for general working capital.
  • Financing is secured by a senior-priority lien on substantially all assets; subsidiaries provide guarantees.
  • Investor conversion price is the greater of 90% of the lowest 10-day VWAP or the Nasdaq minimum price, subject to a floor.
  • Issued 600,000 commitment shares; make-whole shares owed if sold when the stock closes below USD 0.218.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Co-Diagnostics Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-046676), on October 13, 2026, and is solely responsible for the information contained therein.