IGC · IGC Pharma, Inc.

Summary

IGC Pharma, Inc. entered into a Securities Purchase Agreement on March 5, 2026, issuing a $353,050 principal promissory note (with $46,050 OID) to Vanquish Funding Group Inc. for $307,000, maturing February 28, 2027, convertible upon default at 75% of the lowest trading price over prior 10 trading days. The Company also received approximately $219,000 under a loan agreement with One Deck Capital, Inc. for general working capital purposes.

Key takeaways

• Issued promissory note to Vanquish Funding Group Inc. with $353,050 principal, $46,050 OID, purchase price $307,000
• Note matures February 28, 2027; prepayable in full anytime; 12% one-time interest ($42,366)
• Seven scheduled payments totaling $395,416 from August 30, 2026 to February 28, 2027
• Conversion upon Event of Default at 75% of lowest trading price over 10 prior trading days; 4.99% ownership limit
• 19.99% conversion cap unless NYSE American shareholder approval obtained
• Additional $219,000 loan from One Deck Capital, Inc. with interest and scheduled payments for working capital