Longevity Health lines up $630K note facility with Puritan Partners
What's the deal? Longevity Health HoldingsDealroom has a profile for this one. Try Dealroom → (OTCQB: XAGE) has signed a securities purchase agreement with Puritan Partners for up to $625,000 in gross proceeds through 10% senior secured convertible notes. The Pittsburgh company took in $375,000 at the initial closing on August 31, 2026, via a note with a principal amount of $416,666.67.
The terms: The initial note is due February 29, 2028, carries 10% annual interest, and converts into common stock at $0.50 per share. It is secured by substantially all of the company's assets and those of its subsidiaries.
What's the endgame? Longevity develops and markets cosmetic skincare and haircare products, building what it calls a "regenerative bio-aesthetics platform." Chairman and chief executive officer Janakiram Ajjarapu said the facility gives the company "additional financial flexibility" and "room to draw additional capital as we achieve key milestones."
Why now? The agreement allows for two more notes of $125,000 each, up to an aggregate principal of $277,778. The second tranche depends on an effective resale registration statement; the third sits at Puritan's sole discretion.
What could go wrong? The company itself flags the risks: the added financing may not close on the described terms or at all. The notes also carry potential dilution, security interests over nearly all assets, and default-related remedies.
The signal: At $630,000, this is a modest, milestone-gated facility — a small draw that ranks in the bottom fraction of funding rounds by size. For a micro-cap on the OTCQB, convertible debt is the practical route to keep a niche platform running while chasing "other strategic opportunities."
Read more: lifestyle.eastmnweeklynews.com
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