Co — Diagnostics enters loan deal with J.J. Astor for up to $3.1 million funding

Co-Diagnostics entered a loan agreement with J.J. Astor on Oct. 9, 2026 for up to USD 3.1 million. Initial funding totaled USD 2.1 million; it issued a senior secured convertible installment promissory note with USD 2.835 million original principal. Lender withheld a 4% origination fee; net cash proceeds were about USD 2.016 million before other transaction expenses. Company can elect an additional USD 1 million loan after 60 days; it would issue a USD 1.35 million note. Notes carry a 1.35 factor rate; repayment runs through 30 weekly installments; proceeds earmarked for general working capital. Financing is secured by a senior-priority lien on substantially all assets; subsidiaries provide guarantees. Investor conversion price is the greater of 90% of the lowest 10-day VWAP or the Nasdaq minimum price, subject to a floor. Issued 600,000 commitment shares; make-whole shares owed if sold when the stock closes below USD 0.218. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpr