Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 144

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 144
---
,630  
     619,527 
  
    Acquisition Settlement Agreement 
     976,190  
     — 
  
    Total 
     3,662,736  
     619,527 

    Current portion: 

    Less: current portion-SSPNs 
     (1,890,192) 
     — 
  
    Less: current portion-Promissory note 
     (148,724) 
     — 
  
    Less: current portion-EIDL 
     (5,900) 
     (4,400)
  
    Acquisition Settlement Agreement 
     (142,857) 
     — 
  
    Notes payable, net of current 
    $1,475,064  
    $615,127 

Securities Purchase Agreement

On February 4, 2025, the Company and an institutional
investor entered into a Securities Purchase Agreement, pursuant to which the Company issued to the investor a Senior Secured 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