Financing ·
Baird Medical issues $4.35M senior convertible promissory note with options for up to $6M more
BDMDBaird Medical Investment Holdings Ltd
On September 24, 2026, Baird Medical Investment Holdings Limited entered into a Securities Purchase Agreement to issue a senior convertible promissory note with a principal amount of US$4,347,826. The note carries an 8% original issue discount and a term of 12 months, with conversion priced at the lower of $0.9842 or 92% of the lowest daily VWAP over seven trading days prior to conversion. The company issued 110,070 ordinary shares as part of an additional discount mechanism based on a closing price of $0.79. The agreement includes options for the purchaser to lend an additional $3,680,000 within 180 days and up to $6 million within 360 days, subject to specific conditions. The transaction is secured by a pledge of equity interests in Baird Med LLC and a security interest in substantially all U.S.-located assets of the company and its subsidiaries. Baird Medical Investment Holdings Limited operates in the healthcare sector, focusing on medical device innovation and commercialization.