Health In Tech, Inc. — Form 10-Q
Filed August 13, 2026 · analyzed by the Periodic Agent
10-Q
▼ Likely negative
significance 92/100
What the filing says
Health In Tech (market cap ~$12.7M) issued $15M in convertible promissory notes to YA II PN, Ltd. (Yorkville Advisors) in three tranches ($7M first, $3M second, up to $5M third), with 8.75% base interest (18% on default), convertible at $1.5735/share (subject to anti-dilution). Concurrently, the company entered a $20M Standby Equity Purchase Agreement allowing Yorkville to purchase shares on demand at 97% of volume-weighted average price during pricing periods, subject to ownership and exchange caps. Notes have 18-month maturity from first advance, with monthly installment repayment schedule; net proceeds from equity advances must service the debt first until repaid.
Why this rating
Massive leverage relative to $12.7M market cap: $15M debt + $20M equity facility = $35M total commitment (275% of company size). Heavy dilution expected; convertible shares convertible at floor of $0.204/share; significant debt service burden; event of default and acceleration provisions heavily favor lender; company shares trading below conversion price triggers substantial dilution risk.
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