AIDX - 20/20 BioLabs Announces Standstill Agreement with Streeterville Capital Regarding Series E Convertible Preferred Stock

Under the terms of the Agreement, during the 120-day period beginning on the date of the Agreement, Streeterville has agreed not to convert any shares of Series E Preferred Stock into shares of the Company’s common stock unless, on a given trading day, the common stock trades at a price at least 10% above the "Minimum Price" (as defined under Nasdaq Rule 5635) (the "Standstill") provided that the Standstill shall terminate immediately upon the occurrence of any breach of the Agreement or any Event of Default (as defined in the Certificate of Designation for the Series E Preferred Stock). The Agreement temporarily limits potential dilution from conversions of the Series E Preferred Stock while preserving the existing rights and obligations of both parties under the related transaction documents. Upon expiration or termination of the Standstill, Streeterville may resume converting shares of the Series E Preferred Stock in accordance with the terms of the applicable transaction documents. Except as expressly provided in the Agreement, the Series E Preferred Stock and all related transaction documents remain in full force and effect. Additional information regarding the Agreement will be included in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.