Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 1505

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1505
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 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 of the outstanding and unpaid principal amount and accrued and unpaid interest into shares of the Company’s Common Stock
at a price equal to the offering price of the IPO multiplied by 0.75, with certain provisions. The Company also issued warrants to the
lenders that are exercisable for 50,000 shares of the Company’s Common Stock and (i) have a term of 60 months; (ii) have full ratchet
anti-dilution protection provisions; (iii) are exercisable for a number of shares of the Company’s Common Stock equal to the number
of shares that would be issued upon full conversion of this Note; and (iv) have an exercise price equal to the lower of: (A) $5.00 per
share, or (B) the price per share of any subsequent offering undertaken by the Company. The Company also granted to the lenders: (i) upon
the repayment of the loan, 30,000 shares of the Company’s Common Stock (based on an assumed offering price of $5.00 per share, (ii)
the right to participate in any future financings, (iii) additional