ENvue Medical Secures $1M Secured Note and Cuts Series X Conversion Price to $0.50
Summary
ENvue Medical raised up to $1M in secured debt from Alpha Capital Anstalt and cut its Series X preferred conversion price to $0.50 with full-ratchet anti-dilution, a highly dilutive structure for common shareholders.
Key Events · Financing and Capital Events · NAOV
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Secured Note with Alpha Capital Anstalt
Up to $1,000,000 in financing, with $250,000 initial tranche funded on October 8, 2026. Interest at 10% per annum, rising to 18% on default. Maturity December 31, 2026, extendable by lender to December 31, 2028.
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Series X Conversion Price Cut to $0.50
Amendment lowers Series X Preferred Stock conversion price to $0.50 per share, subject to adjustment. At current $4.02 share price, conversion would be highly dilutive to common holders.
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Full-Ratchet Anti-Dilution Added
Section 7.6 amendment adds full-ratchet protection: any future equity sale below $0.50 automatically reduces the conversion price to that lower price, with no floor and no recovery if the dilutive issuance is later canceled.
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Security Interest Over All Assets
Lender receives a continuing security interest in substantially all assets, including accounts, inventory, intellectual property, and equity ownership of subsidiaries. Lender can file financing statements and perfect its interest.
Analysis · NAOV · Industrial Applications And Services
A new secured financing with Alpha Capital Anstalt provides up to $1 million, with $250,000 funded immediately, while the Series X Preferred Stock conversion price drops to $0.50 per share with full-ratchet anti-dilution protection. The security interest covers substantially all assets, including intellectual property and subsidiary equity, meaning the lender can seize core assets in a default. At $0.50, the conversion price is far below the current $4.02 share price, creating massive potential dilution for common holders if converted. The full-ratchet provision means any future equity sale below $0.50 will further reduce the conversion price, a coercive structure typical of distressed financing.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 45% of the 1400 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.36%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, NAOV was trading at $4.02 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $4.4M. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.