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Healthcare

Impact Biomedical Inc.

04/03/2025 | Press release | Distributed by Public on 04/03/2025 14:29

Material Agreement (Form 8-K)

Item 1.01.

Entry Into a Material Definitive Agreement.

Debt Conversion Agreement

As previously reported on the Company's current report on Form 8-K, filed March 28, 2025 (the "Initial 8-K"), Impact BioMedical Inc. (the "Company") entered into a Debt Conversion Agreement (the "Debt Conversion Agreement"), dated March 24, 2025, with DSS, Inc. ("DSS"), pursuant to that certain Amended and Restated Promissory Note, dated September 16, 2024 (the "Promissory Note"). The original principal amount of the Promissory Note was $12,000,000, and as of March 24, 2025, the Promissory Note had a principal balance of $13,176,477.03.

In connection with the Initial 8-K, given current market conditions, DSS has withdrawn from the Debt Conversion Agreement at this time. As such, no shares have been issued in connection with the Debt Conversion Agreement.

Impact Biomedical Inc. published this content on April 03, 2025, and is solely responsible for the information contained herein. Distributed via EDGAR on April 03, 2025 at 20:30 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]