Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 6

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 6
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 which on April 1, 2024 we issued the Investor a 13% OID senior secured
promissory note in the face amount of $1,316,000 (the “April Note”), 50,000 shares of Common Stock as a commitment fee, a
warrant (the “First April Warrant”) to purchase up to 150,000 shares of Common Stock with an exercise price of $3.00 exercisable
until the five-year anniversary of the closing date of the financing, and a second warrant, to purchase up to 152,300 shares of Common
Stock with an exercise price of $2.25 exercisable until the five-year anniversary of the closing sate (the “Second April Warrant,”
and collectively, the “April Warrants”). The Company also granted the Investor piggy-back registration rights and entered
into registration rights agreement with the Investor with respect to the securities issued in this financing. The Company Group also entered
into a security agreement with the Investor pursuant to which the Company Group granted the Investor a security interest in certain property
of the Company Group to secure the Company’s obligations under the April Note. The Company also agreed to obtain shareholder approval
for the issuance of more than 19.99% of the issued and outstanding Common Stock in this financing. Pursuant to this financing, the Company
received net proceeds of $1,122,682, after deducting offering expenses, including a tail fee payable to Alexander Capital L.P.

On April 1, 2024, Joseph La
Rosa, as the majority stockholder of the Company, in accordance with Nasdaq Listing Rules 5635(b) and 5635(d), approved the transaction
and issuance of the shares upon conversion of the April Note and exercise of the April Warrants, which was effective on May 8, 2024, or
20 days after the commencement of mailing of the definitive information statement regarding this approval to the stockholders of the Company.

During fiscal year of 2024,
the Company issued Investor 96,600 shares of Common Stock due to partial conversion of April Note. Remaining portion of April Note was
repaid by the Company by February 2025. 

July 2024 Financing

On July 16, 2024, we entered
into a securities purchase agreement with the Investor pursuant to which on July 16, 2024 we issued the Investor a 13% OID senior secured
promissory note in the face amount of