JanOne Inc. announced a private placement of convertible promissory note in the principal amount of $300,000 on February 7, 2024. The transaction will include participation from new investor Live Ventures Incorporated. The note carries interest rate of 10% per annum and $100,000 of principal, and accrued interest thereon, for each note is due on March 7, 2024 and the balance of each note is due on December 31, 2024.

At the company?s option, the obligation under each note is convertible after the six-month anniversary thereof at a per-share conversion price of $0.61, subject to standard adjustments.