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)
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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