Endovia Health Sciences, Inc. (EDVA) entered into a Letter Agreement with C/M Capital Master Fund, LP on September 18, 2026. Under the agreement, the Investor committed to investing a minimum of $1 million to support the regulatory advancement and commercialization of the company’s CannEpil product.
The Company has closed the Investor’s initial investment of $510,000. This amount was exchanged for a secured convertible promissory note with a principal amount of $576,271, which includes an original issue discount of $66,271.
The terms of the Note include a maturity date of September 18, 2027. The Note is convertible into shares of Endovia’s Common Stock at a conversion price equal to the lower of $1.75 per share or $0.01 above the closing sale price on the date of conversion. The Note bears no interest absent an event of default, at which point interest accrues at a rate of 7% per annum.
The Company is permitted to prepay the Note at any time without premium or penalty. Additionally, the Note is subject to mandatory prepayments of 30% of gross proceeds received by the Company from future issuances of securities pursuant to an existing Equity Line of Credit (ELOC) Agreement.
In a separate transaction disclosed in the same report, the Company sold and issued 3,629,250 shares of common stock to the Investor from August 31, 2026, through September 23, 2026. These sales generated total gross proceeds of $808,829.42. These shares were registered on the Company’s Form S-1 registration statement, effective August 24, 2026.
