Monitor for updates on the closing of the proposed business combination with Fortitude Mining Holdings, Inc. — the maturity acceleration trigger. The pending merger is the key catalyst for repayment and resolution of this debt.
Price Chart
Executive Summary
HeartSciences Inc. entered into Amendment No. 8 to its existing loan agreement with Front Range Ventures LLC, extending the maturity date of a $500,000 secured promissory note to the earlier of 2 business days after the closing of its proposed business combination with Fortitude Mining Holdings, Inc. (announced June 23, 2026) or January 29, 2027. The amendment also requires payment of accrued interest as of September 30, 2026, with all future interest due at maturity. This is a routine debt extension tied to the pending merger, providing near-term liquidity relief but highlighting the company's reliance on the business combination for repayment.
Key Facts
- Original principal amount of $500,000 borrowed from Front Range Ventures LLC under a secured, non-convertible promissory note dated April 24, 2020.
- Amendment No. 8 extends the maturity date to the earlier of 2 business days after closing of the proposed business combination with Fortitude Mining Holdings, Inc. or January 29, 2027.
- Interest accrues at 12% per annum, compounded annually; a payment of accrued interest as of September 30, 2026 is due on or before that date.
- Company may prepay principal in increments of at least $50,000, applied first to accrued interest.
- The proposed business combination with Fortitude Mining Holdings, Inc. was announced on June 23, 2026.
- A prior SC 13D was filed on August 19, 2026 by Digital Currency Group, Inc. and Fortitude Mining Holdings, Inc., indicating activist stake context for the proxy fight.
Financial Impact
Debt extension of $500,000 extended to early 2027, with 12% annual interest; no new principal borrowed.
Risk Factors
- If the business combination fails to close, the full principal and all accrued interest becomes due on January 29, 2027, creating a liquidity risk.
- The company's ability to continue as a going concern may be tied to the successful completion of the merger; failure could lead to default or restructuring.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001213900-26-106514 |
| Document: ea030743701ex10-2.htm | 0001213900-26-106514 |
| Document: ea030743701ex10-1.htm | 0001213900-26-106514 |
| Document: 0001213900-26-106514-index-headers.html | 0001213900-26-106514 |
| Document: 0001213900-26-106514-index.html | 0001213900-26-106514 |
| Document: 0001213900-26-106514.txt | 0001213900-26-106514 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | DEFA14A | — | awaiting T+1 | — | — |
Oct 26, 2026 today | DEFA14A | — | awaiting T+1 | — | — |
Oct 23, 2026 3d ago | SC 13D/A | $3.41 | awaiting T+1 | — | $3.18 (−6.74%) |
Oct 21, 2026 5d ago | DEFA14A | $3.17 $3.14 | ▼ −0.95% | ▼ −0.42% | $3.18 (+0.32%) |
Oct 19, 2026 7d ago | DEFA14A | $3.13 $3.56 | ▲ +13.74% | ▲ +13.21% | $3.18 (+1.60%) |
Oct 19, 2026 7d ago | DEFA14A | $3.07 $3.13 | ▲ +1.95% | ▲ +1.62% | $3.18 (+3.58%) |
Oct 19, 2026 7d ago | DEFM14A | $3.07 $3.13 | ▼ −1.95% | ▼ −1.62% | $3.18 (−3.58%) |
Oct 15, 2026 11d ago | DEFA14A | $3.02 $3.07 | ▲ +1.66% | ▲ +1.23% | $3.18 (+5.30%) |
Oct 9, 2026 17d ago | 424B5 | $3.30 $3.09 | ▲ +6.36% | ▲ +6.35% | $3.18 (+3.64%) |
Oct 6, 2026 20d ago | DEFA14A | $3.49 $3.04 | ▼ −12.89% | ▼ −12.47% | $3.18 (−8.88%) |
US Market Status
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