Co-Diagnostics, Inc. (CODX) Form 8-K — Oct 13, 2026
$CODXForm 8-KItems 1.01, 2.03, 3.02, 9.01Filed Oct 13, 2026, 6:10 AM ET0001493152-26-046676Original filing
Co-Diagnostics entered a $3.1 million senior secured convertible loan facility with J.J. Astor & Co. on October 9, 2026, funding $2.1 million upfront with net proceeds of roughly $2.0 million after a 4% origination fee. The Notes carry a punitive 1.35x factor rate, require $94,500 weekly payments over 30 weeks, and are secured by a lien on substantially all assets.
Key figures
- Debt Amount
- $3.1 million aggregate (initial $2.1 million funded; up to $1.0 million additional)
- Interest Rate
- Default interest 19% per annum compounded daily
- Maturity Date
- May 7, 2027
- Gross Proceeds
- $2,016,000 initial net proceeds
- Factor rate
- 1.35x (1.29x if prepaid within 45 days)
- Floor price
- $0.218 per share
- Origination fee
- $84,000 (4%)
- Commitment shares
- 600000
- Atm financing size
- $7,350,877.68
- Maxim placement fee
- 5.0% of gross proceeds
- Nasdaq minimum price
- $1.09 per share
- Minimum cash requirement
- $250,000
- Weekly installment payment
- $94,500 for 30 weekly installments
- Default principal multiplier
- 120%
- Max default amount initial note
- $3,402,000
- Original principal initial note
- $2,835,000
- Max default amount additional note
- $1,620,000
AI analysis
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