Clearday, Inc. announced that it has entered into a Securities Purchase Agreement for a private placement of a senior unsecured promissory note for proceeds of $283,500 on September 28, 2022. The note carries principal amount of 315,000 and was issued at a 10% discount. The transaction included participation from Mast Hill Fund, L.P., a fund managed by Mast Hill Management, LLC.

The company also issued warrants to purchase 472,500 common shares at an exercise price of $0.5 in five years. The company incurred $28,350 in placement fees expenses and $7,000 lender expenses. The note carries an interest rate of 12% per annum, subject to increase to the lesser of 16% per annum or the maximum amount permitted by law upon an Event of Default as defined by the Note.

The Note's maturity date is 380 days after issuance date. The company also issued 34,650 of Commitment Share as fees to the investor.