Company: CRVO
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001437749-25-013543
Chunk: 80

Company: CervoMed Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 80
---
 of the 2024 Private Placement. The 2024 Private Placement lock-up agreements expired on June 20, 2024.

<div align='center'>42</div>

Convertible Note Amendments

In December 2020, EIP issued the 2020 Notes to predominantly related party investors for aggregate proceeds of $5,078,500. In December 2021, the Company issued the 2021 Notes to predominantly related party investors for aggregate proceeds of $6,000,000. Among the Company’s current directors and executive officers: Dr. Alam purchased $500,000 of the 2020 Notes; Dr. Grégoire purchased $500,000 of the 2020 Notes; Dr. Boger and his affiliates purchased an aggregate of $500,000 of the 2020 Notes and $5,000,000 of the 2021 Notes; Mr. Zavrl and his affiliates purchased an aggregate of $350,000 of the 2020 Notes and $1,000,000 of the 2021 Notes; Ms. Blackburn, our Senior Vice President, Clinical Development, purchased an aggregate of $150,000 of the 2020 Notes; and Mr. Poulton, a member of our Board, purchased $100,000 of the 2020 Notes.

In June 2023, EIP and the holders of the EIP Convertible Notes amended the terms and conditions of the EIP Convertible Notes to, among other things, establish a fixed conversion price of $1.47 per share of EIP Common Stock with respect to the Merger. In addition, the 2021 Notes were amended to provide that, to the extent the conversion of such notes in the Merger were to result in the holder beneficially owning more than 9.99% of the outstanding voting stock of the Company, such holder would be granted pre-funded warrants in lieu of common stock for the conversion of any principal and accrued but unpaid interest in excess of 9.99%.

In connection with the closing of the Merger, all outstanding EIP Convertible Notes converted into shares of EIP Common Stock at the fixed conversion price of $1.47 per share of EIP Common Stock, which shares of EIP Common Stock were subsequently converted into the right to receive 0.1151 shares of our common stock (or pre-funded warrants in lieu thereof) upon closing of the Merger.

<div align='center'>43

OTHER MATTERS</div>

Stockholder Proposals for