VSee Health raises $575,550 in convertible notes in quick re-raise
What's the deal? VSee HealthDealroom has a profile for this one. Try Dealroom → (Nasdaq: VSEE) has raised $575,550 through two unsecured convertible note agreements with ClearThink CapitalDealroom has a profile for this one. Try Dealroom → Partners and Vanquish Funding Group. The telehealth company disclosed the financing in a Form 8-K filing tied to a Securities Purchase Agreement signed June 22, 2026.
The terms: The ClearThink note carries a one-time 10% interest charge, repaid in seven monthly installments of $44,800 starting December 22, 2026. The Vanquish note, with a principal of $295,550 and a $38,550 original issue discount, carries a 12% charge and repays over five monthly installments.
Why now? The two agreements arriving together mark a quick re-raise, with the Vanquish deal leaving room for further tranches of up to $2,050,000 within twelve months, subject to agreement.
What could go wrong? Both notes convert into common stock after 180 days. The Vanquish conversion price is set at 75% of the lowest trading price over the 10 trading days before conversion — a 25% discount that could dilute existing shareholders if conversion happens at depressed prices.
Share issuance is capped at 19.99% of outstanding shares unless shareholders approve more, in line with Nasdaq rules. Standard default clauses apply, covering non-payment, bankruptcy, delisting, and failure to meet SEC reporting requirements.
The signal: Small, discounted convertible notes offer cash-strapped listed companies fast capital without a traditional raise — but at the cost of potential dilution and downward pressure on the stock.
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