BioCorRx : Material Agreement - Form 8-K

Item 1.01 Entry into a Material Definitive Agreement.

Securities Purchase Agreement

On December 8, 2023, BioCorRx Inc., a Nevada corporation (the "Company"), entered into a securities purchase agreement (the "SPA") with an accredited investor (the "Investor"), whereby the Investor purchased from the Company, for a purchase price of $200,000 (the "Purchase Price") (i) a promissory note of the Company in the original principal amount of $220,000.00 (the "Note"), (ii) a common stock purchase warrant for 200,000 shares (the "Warrant") of the Company's common stock, par value $0.001 per share (the "Common Stock"), and (iii) 24,000 restricted shares of Common Stock (the "Inducement Shares", and collectively with the Note and Warrant, the "Securities").

The Note was issued on December 8, 2023 (the "Note Issuance Date") and is set to mature on September 8, 2024 (the "Maturity Date"). The Company shall repay the Note in equal installments of $39,600 each month beginning on April 8, 2024 and concluding on the Maturity Date. The Note may be prepaid at any time without penalty. The Note bears a one-time interest charge of 8% that was applied to the original principal amount on the Note Issuance Date. The Note is not secured by any collateral or any assets pledged to the Investor.

The Warrant is exercisable for four (4) years from the date of issuance at an exercise price of $2 per share.

The foregoing description of the SPA, the Note and the Warrant does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the form of the SPA, the Note and the Warrant, copies of which are attached hereto as Exhibit 10.1, Exhibit 10.2 and Exhibit 4.1, respectively, and incorporated herein by reference.