On June 28, 2022, ThermoGenesis Holdings, Inc. (the “Company”) received a conversion notice from Boyalife Asset Holding II, Inc.(“Boyalife”) to convert a total of $3,000,000 of the outstanding balance of the Second Amended and Restated Convertible Promissory Note issued by the Company to Boyalife on April 16, 2018, as amended by Amendment No 1 thereto dated March 4, 2022 (as amended, the “Note”). The amount converted represents $3,000,000 of the outstanding principal balance of the Note. The conversion resulted in the issuance of 10,552,234 shares of the Company’s common stock at a conversion price of $.2843 per share. Immediately after the conversion, the new outstanding principal balance ofthe Note was $7,000,000, and accrued but unpaid interest was $708,000.
Additionally, between May 19, 2022 and July 5, 2022, the Company sold an aggregate of 7,939,251 shares of its common stock under its At the Market Offering Agreement with H.C. Wainwright & Co., LLC. As of July 5, 2022, the Company had 31,321,362 shares of common stock issued and outstanding
