Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 2152

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7
Chunk 2152
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ured Convertible
Note in the original principal amount of $5,500,000 which matures on February 4, 2027. The purchase price paid by the investor under the
agreement was $4,963,750. The $4,963,750 in gross proceeds from the offering was used by the Company to retire certain indebtedness of
the Company. For further information about the agreement see Note 15 — Subsequent Events.

Note Payable satisfied in 2023-Unsecured subordinated promissory note 

On August 22, 2022, the Company issued to an unaffiliated
private investor an unsecured subordinated promissory note that was used for general corporate purposes in the principal amount of $250,000
with a coupon rate of 15% per annum. This note had an original maturity of the earlier of the consummation of the closing of an IPO by
the Company or on November 23, 2022. After November 2022, the maturity was extended seven times, with all terms remained unchanged, except
beginning January 1, 2023, the Company no longer made monthly interest payments and the principal balance along with all accrued but unpaid
interest would be due on note maturity. The last amendment had a final maturity of the earlier of the consummation of the closing of an
IPO by the Company or on October 31, 2023. The Company repaid the note principal and all unpaid accrued interest at the closing of the
Company’s IPO on October 12, 2023. In addition, the Company issued 5,000 unregistered, restricted shares of Common Stock valued
at $25,000 based on the per unit price of the Company’s IPO to the private investor.

F-24

OID Note

On November 14, 2022, the Company and Emmis Capital
II, LLC, an affiliate of one of the Company’s consultants (“Emmis Capital”), entered into a securities purchase agreement
and senior secured promissory note (“OID Note”) in the principal amount of $277,778 that was used for general corporate purposes.
The OID Note had an original issue discount of 10%, a coupon rate of 10% per annum, a default interest rate of 24% per annum, and a $5,000
per month per occurrence delinquency penalty. The note holder had the right at any time, at the holder’s option, to convert all
or any part