AIM ImmunoTech Inc. 10-Q

Debt

Note 8: Unsecured Promissory Note During the years ended 2025 and 2024 the Company entered into three separate agreements with Streeterville Capital LLC (“Streeterville” or the “Lender”). The terms of the agreements are described below: Note 1 – On February 16, 2024, the Company (“Borrower”) entered into a Note Purchase Agreement with Streeterville Capital LLC (“Streeterville” or the “Lender”). Under the terms of the agreement, Streeterville paid the Company $ 2.5 million in exchange for an unsecured promissory Note with an Original Issue Discount of $ 781 thousand. Under the original terms of the agreement, the Company agreed to pay $ 3.3 million consisting of the principal amount of the Note, together with the original issue discount and $ 20 thousand of lender transaction fees, no later than February 16, 2026. The stated interest rate of the note is 10 %. The agreement allows the Lender to redeem up to $250 thousand per calendar month beginning in August 2024, upon providing written notice to Borrower. The Note further contains triggering events which can be remedied by the Lender requiring the Borrower to correct the triggering event, increasing the outstanding balance by applying the triggering effect, or making the Note immediately due and payable. During the quarter ended March 31, 2026, the Company entered into an agreement with the Lender to settle a portion of its outstanding loan obligation in the amount of $ 400 thousand through the issuance of 364,084 shares of common stock rather than cash payment. During the year ended December 31, 2025, the Company entered into agreements with the Lender to settle a portion of its outstanding loan obligation in the amount of $ 700 thousand through the issuance of 170,353 shares of common stock, rather than cash payment. These exchanges were completed pursuant to the terms of the loan agreement, which allows for the settlement of debt through stock issuance under certain conditions. An amendment to the Promissory Note was executed with the lender on March 10, 2026. Pursuant to the amendment the maturity date of the Note was extended until June 30, 2026. Other than the maturity date extension, there were no other changes to the agreement. On May 18, 2026, the Company and the Lender entered into Amendment #2, which amended the Note and further extended the maturity date of the Note until June 30, 2027. Pursuant