Exhibit 4.12

 

HEARTBEAM, INC.

 

AMENDMENT NO. 7 TO 2015 NOTE SUBSCRIPTION AGREEMENTS

 

This Amendment No. 7 to 2015 Note Subscription Agreements (this “Amendment”) is made and entered into as of October 7, 2021 (the “Effective Date”) by and among HeartBeam, Inc., a Delaware corporation (the “Company”) and certain of the persons and/or entities (each, an “Investor” and together, the “Investors”) set forth on the signature pages to the Subscription Agreements (as defined below). Capitalized terms not defined herein shall have the terms ascribed to them in the Subscription Agreements (as defined below) or the Notes (as defined below).

 

RECITALS

 

A. The Company and the Investors are parties to certain 2015 Note Subscription Agreements (each, a “Subscription Agreement” and together, the “Subscription Agreements”), each by and between the Company and the Investor set forth on the signature page thereto.

 

B. The Company sold and issued, and the Investors purchased convertible promissory notes (each, a “Note” and together, the “Notes”), pursuant to the Subscription Agreements.

 

C. Recital B of each Subscription Agreement, as previously amended, provides that the aggregate amount of Note principal issued and sold pursuant to all such Subscription Agreements shall not exceed $5,000,000.

 

D. Section 4(a) of each Subscription Agreement provides that the Subscription Agreements may be amended only upon the written consent of the Company and the Investors representing a majority of all principal then owing pursuant to outstanding Notes issued pursuant to the Subscription Agreements (a “Majority in Interest of Investors”).

 

E. The Company and the undersigned Investors, representing a Majority in Interest of Investors, wish to increase the aggregate principal amount of all Notes available for sale pursuant to Subscription Agreements to $5,500,000.

 

AGREEMENT

 

NOW THEREFORE, in consideration of the foregoing, and the representations, warranties, and conditions set forth below, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1. Amendment to Recital B. Effective as of the Effective Date, Recital B of each Subscription Agreement is hereby amended, restated and replaced in its entirety with the following language:

 

 

 

 

“B. The Company may, in its sole discretion, issue and sell additional 2015 convertible promissory notes in a form substantially similar to the Note (each, also a “Note” and together with all other Notes, the “Notes”) to certain other investors identified by the Company from time to time (each, also an “Investor” and together with all other Investors, the “Investors”) pursuant to a 2015 note subscription agreement in a form substantially similar to this Agreement (each, also an “Agreement” and together with all other Agreements, the “Agreements”), provided the aggregate amount of Note principal issued and sold pursuant to all such Agreements does not exceed $6,000,000.”

 

2. Miscellaneous.

 

(a) Amendment. This Amendment may not be amended, waived, discharged or terminated other than by a written instrument referencing this Amendment and signed by the Company and the Investors representing a Majority in Interest of Investors.

 

(b) Governing Law. This Amendment and all actions arising out of or in connection with this Agreement shall be governed by and construed in accordance with the laws of the State of California, without regard to the conflicts of law provisions of the State of California or of any other state.

 

(c) Entire Agreement. This Amendment, the Notes and the Subscription Agreements, (to the extent not hereby amended or previously amended), including the exhibits attached thereto, constitute the full and entire understanding and agreement between the parties for the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner for the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.

 

(d) Severability. If any provision of this Amendment becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Amendment, and such court will replace such illegal, void or unenforceable provision of this Amendment with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Amendment shall be enforceable in accordance with its terms.

 

(e) Counterparts. This Amendment may be executed in one or more counterparts, each of which will be deemed an original, but all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding originals.

 

(signature page follows)

 

-2-

 

 

The parties are executing this Amendment No. 7 to 2015 Note Subscription Agreements effective as of the Effective Date.

 

  COMPANY:
   
  HEARTBEAM, INC.
   
  By: /s/ Richard Brounstein
  Name: Richard Brounstein
  Title: CFO

 

The parties are executing this Amendment No. 7 to 2015 Note Subscription Agreements effective as of the Effective Date.

 

  INVESTOR:
   
  By: /s/ Branislav Vajdic
  Print Signatory Name: Branislav Vajdic
   
  INVESTOR:
   
  By: /s/ Wim Elfrink
  Print Signatory Name: Wim Elfrink
  Investor name: Elfrink Living Trust
  (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Wim Elfrink
  Print Signatory Name: Wim Elfrink
  Investor Name: WPE Ventures Partnership
  (applicable if stockholder is an entity)
  Title: Partner
  (applicable if stockholder is an entity)

 

HeartBeam, Inc.

Amendment No. 6 to 2015 Note Subscriptions Agreements

 

 

 

 

  INVESTOR:
   
  By: /s/ Wim Elfrink
  Print Signatory Name: Wim Elfrink
  Investor Name: C Elfrink and W Elfrink
    (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Scott Murano
  Print Signatory Name: Scott Murano
  Investor Name: WS Investment Company LLC
  (applicable if stockholder is an entity)
  Title: Principle
    (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Stephen Mullaney
  Print Signatory Name: Stephen Mullaney, trustee
  Investor Name: Mullaney Family Trust
    (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Richard Brounstein
  Print Signatory Name: Richard Brounstein, trustee
  Investor Name: Trust of Richard and Stephanie Brounstein
    (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Richard Brounstein
  Print Signatory Name: Richard Brounstein
  Investor Name: CTRLCFO, LLC
  (applicable if stockholder is an entity)
  Title: President
    (applicable if stockholder is an entity)

 

HeartBeam, Inc.

Amendment No. 7 to 2015 Note Subscriptions Agreements

 

 

 

 

  INVESTOR:
   
  By: /s/ James O’Rourke
  Print Signatory Name: James O’Rourke

 

  INVESTOR:
   
  By: /s/ William Lanfri
  Print Signatory Name: William Lanfri
  Investor Name: Pont Holdings, LLC
    (applicable if stockholder is an entity)

 

  INVESTOR:
   
  By: /s/ Dawn O’Rourke
  Print Signatory Name: Dawn O’Rourke
  Investor Name: Dawn and Michael O’Rourke
    (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Daya Menon
  Print Signatory Name: Daya Menon
   
  INVESTOR:
   
  By: /s/ Richard Strock
  Print Signatory Name: Richard Strock
   
  INVESTOR:
   
  By: /s/ Richard Strock
  Print Signatory Name: Richard Strock
  Investor Name: Richard Strock PS Plan
    (applicable if stockholder is an entity)

 

HeartBeam, Inc.

Amendment No. 7 to 2015 Note Subscriptions Agreements

 

 

 

 

  INVESTOR:
   
  By: /s/ Dr. Barry Mangel
  Print Signatory Name: Barry Mangel
   
  INVESTOR:
   
  By: /s/ Jeffery Taggart
  Print Signatory Name: Jeffrey Taggart
   
  INVESTOR:
   
  By: /s/ Dr. Charles Brown III
  Print Signatory Name: Charles Brown III
   
  INVESTOR:
   
  By: /s/ Sharmila Patel
  Print Signatory Name: Sharmila Patel

 

  INVESTOR:
   
  By: /s/ David Herman
  Print Signatory Name: David Herman
   
  INVESTOR:
   
  By: /s/ Howard Herman
  Print Signatory Name: Howard Herman
   
  INVESTOR:
   
  By: /s/ Mark Herman
  Print Signatory Name: Mark Herman, trustee
  Investor Name: Howard L. Herman Trust
    (applicable if stockholder is an entity)

 

HeartBeam, Inc.

Amendment No. 7 to 2015 Note Subscriptions Agreements

 

 

 

 

  INVESTOR:
   
  By: /s/ Scott Miglori
  Print Signatory Name: Scott Miglori
   
  INVESTOR:
   
  By: /s/ James T. Black
  Print Signatory Name: James T. Black
   
  INVESTOR:
   
  By: /s/ James T. Black
  Print Signatory Name: James T. Black, owner
  Investor Name: Go West Ventures LLC
    (applicable if stockholder is an entity)
   
  INVESTOR:
   
  By: /s/ Mark Manocha
  Print Signatory Name: Mark Manocha

 

  INVESTOR:
   
  By: /s/ Richard Wang
  Print Signatory Name: Richard Wang
   
  INVESTOR:
   
  By: /s/ Daniel Brounstein
  Print Signatory Name: Daniel Brounstein
   
  INVESTOR:
   
  By: /s/ Kevin Wells
  Print Signatory Name: Kevin Wells

 

HeartBeam, Inc.

Amendment No. 7 to 2015 Note Subscriptions Agreements

 

 

 

 

  INVESTOR:
   
  By: /s/ Predrag Saponac
  Print Signatory Name: Predrag Saponac
   
  INVESTOR:
   
  By: /s/ Mohammad Otahbachi
  Print Signatory Name: Mohammad Otahbachi

 

HeartBeam, Inc.

Amendment No. 7 to 2015 Note Subscriptions Agreements