Company: PIII
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001140361-25-014596
Chunk: 77

Company: P3 Health Partners Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 77
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 would have been payable under the VBC Promissory Note. The VBC 1 2024 Loan has a maturity date of June 30, 2028 and an interest rate that is lower than the VBC Promissory Note by 50 basis points, among other things. The VBC 1 2024 Loan did not include the issuance of warrants. All other terms of the VBC 1 2024 Loan are the same as the terms of the VBC Promissory Note. 45 December 2024 Promissory Note On December 12, 2024, P3 LLC entered into a financing transaction with VBC Growth SPV 3, LLC (“VBC 3”), consisting of the issuance of an unsecured promissory note to VBC 3; warrant agreement, pursuant to which we issued warrants to purchase 71.4 million shares of Class A common stock (not reflecting the Reverse Stock Split) at an exercise price of $0.21 per share (not reflecting the Reverse Stock Split) to VBC 3; and a subordination agreement, pursuant to which VBC 3 agreed to subordinate its right of payment under the VBC 3 promissory note to the right of payment and security interests of the lenders under our term loan facility. The VBC 3 promissory note provides for funding of up to $25.0 million. VBC 3 is a Delaware limited liability company managed by an affiliate of Chicago Pacific Founders. Mary Tolan, Lawrence Leisure and Greg Kazarian, each of whom serves on our Board, hold interests in such affiliate. February 2025 Promissory Note On February 13, 2025, P3 LLC entered into the 2025 Financing with VBC 4, consisting of the issuance by P3 LLC of the Promissory Note to VBC 4 and the VBC 4 Warrant to purchase 1,428,129 shares (as adjusted for the Reverse Stock Split) of the Company’s Class A common stock at an exercise price of $[ ] per share (as adjusted for the Reverse Stock Split) to VBC 4. For additional information regarding the 2025 Financing, see Proposal 4 above. VBC 4 is a Delaware limited liability company managed by an affiliate of Chicago Pacific Founders. Mary Tolan, Lawrence Leisure and Greg Kazarian, each of whom serves on our Board, hold interests in such affiliate. For additional information on any of the