VSee Health, Inc. Enters $336K Convertible Note Financing

What Happened

• VSee Health, Inc. announced on June 30, 2026 that it entered into a securities purchase agreement with an institutional investor (Labrys) and issued an unsecured convertible promissory note in the aggregate principal amount of $336,000 (which includes a $36,000 original issue discount). The Labrys Note is due June 30, 2027 and carried a one‑time 12% interest charge that was earned in full at issuance.

Key Details

• Principal amount: $336,000 (includes $36,000 original issue discount).
• Interest and term: one-time 12% interest charged and earned at issuance; maturity June 30, 2027.
• Prepayment/repayment terms: Company may prepay or accelerate subject to specified cash payments within the first 181 days; Labrys may require the Company to apply up to 50% of certain future cash proceeds toward repayment.
• Conversion: Note is convertible into common stock after the earlier of (i) a missed amortization payment, (ii) 180 days after issuance, or (iii) registration of conversion shares; conversion price is 75% of the lowest closing bid in the 10 trading days prior to conversion notice, subject to a ~4.99% beneficial ownership cap.

Why It Matters

• This filing documents a new short‑term debt financing that provides VSee with immediate cash but also creates a repayment obligation and potential equity dilution if converted. The 12% upfront charge increases the effective cost of funds, and the investor’s ability to require up to 50% of certain future proceeds to be used for repayment could affect the company’s cash flexibility. Investors should note the conversion discount (75% of recent trading prices) and the ownership cap, which could lead to dilution if conversion occurs after the specified triggers.