The secured note grants Alpha Capital a blanket lien on all assets including IP and subsidiary equity, creating senior creditor priority. The Series X amendment's anti-dilution ratchet means any future equity raise below $0.50 triggers automatic conversion price reductions—a death spiral provision. Monitor for additional tranche draws and any default events that would accelerate the note.
Price Chart
Executive Summary
ENvue Medical entered into a secured promissory note with Alpha Capital Anstalt for up to $1,000,000, with an initial $250,000 tranche funded on October 8, 2026. Simultaneously, the company amended its Series X Convertible Preferred Stock terms to lower the conversion price to $0.50 per share and add anti-dilution protections. The combination of secured debt pledging substantially all assets and a deeply discounted conversion price signals acute financial distress.
Key Financial Metrics
Key Facts
- Secured promissory note with Alpha Capital Anstalt for up to $1,000,000; initial tranche of $250,000 funded October 8, 2026.
- Interest rate of 10% per annum, increasing to 18% upon default; maturity December 31, 2026, extendable by lender to December 31, 2028.
- Obligations secured by substantially all assets including accounts, inventory, intellectual property, and equity of subsidiaries.
- Series X Preferred Stock conversion price lowered to $0.50 per share, with new anti-dilution provisions that automatically reduce conversion price on any future equity issuance below that level.
- Series X Preferred Stock amendment approved by holders of at least 70% of outstanding shares.
- Company must reimburse lender $10,000 in fees plus out-of-pocket expenses.
- Subsidiaries NanoVibronix Ltd. and ENvue Medical Holdings LLC acknowledged the security agreement.
Financial Impact
Up to $1,000,000 in new secured debt at 10% interest; initial $250,000 drawn. Series X conversion price set at $0.50 per share, implying massive dilution potential relative to current stock price.
Risk Factors
- Default on the note could trigger acceleration and foreclosure on substantially all assets, including key patents and trademarks.
- The anti-dilution ratchet on Series X Preferred creates a self-reinforcing dilution spiral if the company needs to raise equity below $0.50.
- Very short initial maturity (December 31, 2026) with lender-only extension rights creates refinancing risk.
- The $10,000 lender fee and expense reimbursement add to cash burn for a company that appears to be in financial distress.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-047063 |
| Exhibit: ex10-2.htm | 0001493152-26-047063 |
| Exhibit: ex3-1.htm | 0001493152-26-047063 |
| Document: form8-k.htm | 0001493152-26-047063 |
| Document: 0001493152-26-047063-index-headers.html | 0001493152-26-047063 |
| Document: 0001493152-26-047063-index.html | 0001493152-26-047063 |
| Document: 0001493152-26-047063.txt | 0001493152-26-047063 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 8-K | $0.4900 | awaiting T+20 | — | $0.2500 (+48.98%) |
Sep 4, 2026 7w ago | EFFECT | $4.03 $1.03 | ▲ +74.44% | ▲ +75.04% | $0.2500 (+93.80%) |
Aug 31, 2026 8w ago | 8-K | $4.31 | awaiting T+20 | — | $0.2500 (−94.20%) |
Aug 12, 2026 10w ago | 8-K | $4.90 $3.57 | ▲ +27.08% | ▲ +25.19% | $0.2500 (+94.89%) |
Aug 10, 2026 11w ago | S-3 | $0.3982 $0.3033 | ▲ +23.82% | ▲ +22.76% | $0.2500 (+37.22%) |
Jul 10, 2026 15w ago | 8-K | $0.4578 $0.4140 | ▲ +9.57% | ▲ +12.75% | $0.2500 (+45.39%) |
Jun 3, 2026 20w ago | Press Release | $0.8600 $0.5200 | ▼ −39.53% | ▼ −38.53% | $0.2500 (−70.93%) |
May 29, 2026 21w ago | EFFECT | $0.9020 $0.5400 | ▲ +40.13% | ▲ +38.34% | $0.2500 (+72.28%) |
May 18, 2026 23w ago | S-3 | $0.9300 $0.7262 | ▲ +21.91% | ▲ +22.90% | $0.2500 (+73.12%) |
May 12, 2026 24w ago | Press Release | $1.24 $0.8530 | ▼ −31.21% | ▼ −29.48% | $0.2500 (−79.84%) |
US Market Status
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