Recent Updates — CODX

Co-Diagnostics entered into a loan agreement with J.J. Astor & Co. for an aggregate principal funding amount of up to $3.1 million, structured as senior secured convertible installment promissory notes. At initial closing on October 9, 2026, the lender funded $2.1 million, resulting in net proceeds of approximately $2.016 million after a 4% origination fee and other expenses. The company issued an Initial Note with a principal amount of $2.835 million (reflecting a 1.35x factor rate) and may elect to borrow an additional $1.0 million for an Additional Note of $1.35 million. The notes are secured by substantially all assets, payable in 30 weekly installments, and convertible into common stock at the lender's option upon default or under specific conditions. Proceeds from the company’s existing at-the-market offering program will be directed to a deposit account controlled by the lender to service the debt. Co-Diagnostics develops and manufactures molecular diagnostic tests for infectious diseases.

Co-Diagnostics entered into a loan agreement with J.J. Astor & Co. for up to $3.1 million in aggregate principal funding, initially receiving $2.1 million and issuing a senior secured convertible installment promissory note with an original principal amount of $2.835 million. The company may elect to borrow an additional $1.0 million later. Proceeds are intended for general working capital. The notes carry a factor rate of 1.35, require weekly installments over 30 weeks, and are secured by substantially all assets. Conversion into common stock is permitted at the lender's option based on VWAP discounts subject to floor prices. Co-Diagnostics operates in the diagnostics industry.