Merger with Gravitics Extended; Convertible Note to Convert at Deep Discount
NIMU filed a Financing and Capital Events on light trading volume (0.2× avg).
Summary
Non-Invasive Monitoring Systems extended its merger agreement with Gravitics, Inc., but the terms for a key convertible note involve significant dilution for existing shareholders due to a deep discount conversion price.
Key Events · Financing and Capital Events · NIMU
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Merger Agreement Extended
The closing date for the merger with Gravitics, Inc. has been extended to September 30, 2026, indicating the deal is still progressing.
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Convertible Note Conversion at Deep Discount
An $809,705 convertible note will convert into common stock at a highly dilutive price of $0.01966 per share (pre-reverse split), significantly below the current market price of $0.07.
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Insider Debt Repayment
Approximately $300,000 in insider debt owed to Dr. Hsiao and Dr. Frost's affiliate will be repaid as part of the merger conditions.
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Resale Registration Rights Granted
The holder of the $809,705 convertible note will receive resale registration rights for the converted shares, adding potential future selling pressure.
Analysis · NIMU · Manufacturing
Non-Invasive Monitoring Systems, a company facing a going concern warning, has amended its merger agreement with Gravitics, Inc., extending the closing date to September 30, 2026. While this keeps the critical merger alive, the terms for the $809,705 convertible note are highly dilutive, converting at $0.01966 per share (pre-reverse split) compared to the current $0.07 stock price. This deep discount will significantly increase the share count for existing shareholders, though it also facilitates the repayment of $300,000 in insider debt.
How filings like this one have moved
In the 30 days to Oct 30, 2026, 38.4% of the 908 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.42%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NIMU was trading at $0.07 on OTC in the Manufacturing sector, with a market capitalization of approximately $10.9M. The 52-week trading range was $0.00 to $0.09. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.