VSee Health receives default notice on $271,739.13 secured promissory note
VSee Health received a notice dated June 11, 2026 from ADI Funding, LLC asserting an Event of Default on an 8% original issue discount secured promissory note with aggregate principal amount of $271,739.13 (including $21,739.13 original issue discount). The Holder claimed the Company failed to file a resale registration statement on Form S-1, file a Form 8-K related to the purchase agreement, and issue transfer agent instructions, each by June 11, 2026. Under the promissory note, the Company has ten trading days from the default to cure; if not cured, the Holder may accelerate the debt, enforce collateral rights, and recover attorneys' fees and costs.
Key facts
- Principal amount of promissory note: $271,739.13 (including $21,739.13 original issue discount)
- Interest rate: 8%
- Note holder: ADI Funding, LLC
- Date of default notice: June 11, 2026
- Date notice received: June 12, 2026
- Cure period: ten (10) Trading Days from occurrence of Event of Default
- Alleged defaults: failure to file resale registration statement on Form S-1, failure to file Form 8-K, failure to issue transfer agent instructions
- Each alleged default by June 11, 2026
- Related securities purchase agreement dated June 8, 2026
Why it matters
The Company faces potential acceleration of the $271,739.13 debt obligation and enforcement of collateral rights if it cannot cure the specified defaults within ten trading days, which would materially impact its liquidity and financial position.
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Derived from 8-K filed 2026-06-26. Not investment advice. View the source filing on SEC.gov →