Heart Test Laboratories, Inc., a company listed on The Nasdaq Stock Market under the trading symbols HSCS for its common stock and HSCSW for its warrants, has entered into a sixth amendment to its Loan and Security Agreement with Front Range Ventures LLC. The amendment, dated August 19, 2024, extends the maturity date of the company's outstanding $500,000 non-convertible promissory note to September 30, 2025. The loan, which accrues interest at an annual rate of 12%, had its original maturity date set for September 30, 2021, and has seen several extensions since. Under the terms of the amended agreement, Heart Test Laboratories will make an immediate payment of all accrued interest within five business days, followed by a payment on September 30, 2024, with the remaining accrued interest...Show More

Heart Test Laboratories, Inc., a company listed on The Nasdaq Stock Market under the trading symbols HSCS for its common stock and HSCSW for its warrants, has entered into a sixth amendment to its Loan and Security Agreement with Front Range Ventures LLC. The amendment, dated August 19, 2024, extends the maturity date of the company's outstanding $500,000 non-convertible promissory note to September 30, 2025. The loan, which accrues interest at an annual rate of 12%, had its original maturity date set for September 30, 2021, and has seen several extensions since. Under the terms of the amended agreement, Heart Test Laboratories will make an immediate payment of all accrued interest within five business days, followed by a payment on September 30, 2024, with the remaining accrued interest due on the new maturity date. The company also retains the option to repay any part of the note before the maturity date, with a minimum repayment amount of $50,000, which will first cover accrued interest before reducing the principal. This financial maneuver is disclosed in the company's Form 8-K filing with the SEC, which also includes the Amended Loan and Security Agreement and the Amended and Restated Secured Promissory Note as exhibits.