# EDGAR Filing Document

**Accession Number:** 0000887151
**File Stem:** 0001213900-25-077073
**Filing Date:** 2025-8
**Character Count:** 11280
**Document Hash:** f4209abe59333d465f8567074c2d9d7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-077073.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001213900-25-077073

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250814

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capstone Holding Corp.
- **CENTRAL INDEX KEY:** 0000887151
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 860585310
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33560
- **FILM NUMBER:** 251222521

**BUSINESS ADDRESS:**
- **STREET 1:** 5141 W. 122ND STREET
- **CITY:** ALSIP
- **STATE:** IL
- **ZIP:** 60803
- **BUSINESS PHONE:** 7083710660

**MAIL ADDRESS:**
- **STREET 1:** 5141 W. 122ND STREET
- **CITY:** ALSIP
- **STATE:** IL
- **ZIP:** 60803

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Capstone Therapeutics Corp.
- **DATE OF NAME CHANGE:** 20100521

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ORTHOLOGIC CORP
- **DATE OF NAME CHANGE:** 19940211

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): August 14, 2025**

**CAPSTONE HOLDING CORP.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-33560** | **86-0585310** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

**5141 W. 122nd Street**

**Alsip, IL 60803**

(Address of principal executive offices)

Registrant's telephone number, including area code: **(708) 371-0660**

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.0005 per share | CAPS | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

As previously disclosed, on July 29, 2025, Capstone Holding Corp. (the "<u>Company</u>") entered into a securities purchase agreement (the "<u>Purchase Agreement</u>") with an institutional investor (the "<u>Buyer</u>"), pursuant to which the Company authorized the issuance of senior secured convertible notes to the Buyer, in the aggregate original principal amount of up to $10,909,885, which are being issued with a 8.34% original issue discount (each, a "<u>Convertible Note</u>"). The first Convertible Note was issued in the original principal amount of approximately $3,272,966 (the "<u>Note</u>"). The Convertible Notes are convertible into shares of common stock, $0.0005 par value per share (the "<u>Common Stock</u>"), in certain circumstances in accordance with the terms of the Convertible Notes at an initial conversion price per share of $1.72 (the "<u>Conversion Price)</u>".

Pursuant to an effective registration statement on Form S-1 (File No. 333-289222), the Company registered 4,081,672 shares of Common Stock issuable upon conversion of the Convertible Notes.

On August 14, 2025, pursuant to Section 7(h) of the Note, the Company and the Buyer agreed, pursuant to a Conversion Price Voluntary Adjustment Notice signed by both parties, to reduce the Conversion Price of the Note to $1.00 starting on August 15, 2025 through the maturity date of the Note. The Buyer may not convert more than $1,363,736 of principal amount of the Note at the new Conversion Price of $1.00.

**Item 9.01. Financial Statements and Exhibits.**

(d) *Exhibits.*

 

<u> Exhibit Number</u> <u>Exhibits</u> <br> 10.1 [Conversion Price Voluntary Adjustment Notice](ea025348301ex10-1_capstone.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| Date: August 15, 2025 | **Capstone Holding Corp.** | **Capstone Holding Corp.** |
|  | By: | */s/ Matthew E. Lipman* |
|  | Name: | Matthew E. Lipman |
|  | Title: | Chief Executive Officer |

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## Exhibit 10.1

**Exhibit 10.1**

August 14, 2025

<br> 3i, LP<br> 2 Wooster Street, 2nd Floor,<br> New York, New York 10013.<br> Attn: Maier Joshua Tarlow, Manager of 3i Management, LLC, the general partner of 3i, LP<br>

Re: Conversion Price Voluntary Adjustment Notice

Dear Sirs:

Reference is made to (a) that certain Securities Purchase Agreement dated as of July 29, 2025 (the "Purchase Agreement") between Capstone Holding Corp. (the "Company") and the purchaser identified therein (the "Investor"), (b) that certain senior secured convertible note of the Company with a 8.34% original issue discount issued to the Investor (the "Note"), and (c) the other transaction documents, as modified from time to time, referred to collectively, as the "Transaction Documents". Capitalized terms used but not defined herein shall have the meanings given to them in the Purchase Agreement, or if not defined therein, in the Note, or if not defined therein, in the applicable Transaction Document, in each case as of the date hereof.

This letter agreement (this "Letter Agreement") confirms our recent discussions about, among other matters, certain modifications to the Note.

Pursuant to Section 7(h) of the Note, the Company hereby reduces the Conversion Price of the Note to $1.00 starting on August 15, 2025 through the Maturity Date of the Note. Any conversion which occurs shall be voluntary at the election of the Investor, which shall evidence its election as to the note being converted in writing on a conversion notice.

The Investor may not convert more than $1,363,736 of Principal Amount of the Note at the Conversion Price of $1.00 starting on August 15, 2025 through the Maturity Date of the Note.

This Letter Agreement is a Transaction Document and is limited as written. As of the date first written above, each reference in the Purchase Agreement or any other applicable Transaction Document to "this Agreement," "hereunder," "hereof," "herein," or words of like import, and each reference in the other Transaction Documents to such Purchase Agreement or other Transaction Documents (including, without limitation, by means of words like "thereunder," "thereof" and words of like import), shall refer to the Purchase Agreement as modified thereby, and this Letter Agreement and the Purchase Agreement shall be read together and construed as a single agreement. The execution, delivery and effectiveness of this Letter Agreement shall not, except as expressly provided herein, (A) waive or modify any right, power or remedy under, or any other provision of, any Transaction Document or (B) commit or otherwise obligate the Investor to enter into or consider entering into any other amendment, waiver or modification of any Transaction Document.

All communications and notices hereunder shall be given as provided in the Transaction Documents. This Letter Agreement (a) shall be governed by and construed in accordance with the law of the State of New York, (b) is for the exclusive benefit of the parties hereto and the beneficiaries of the Purchase Agreement and, together with the other Transaction Documents, constitutes the entire agreement of such parties, superseding all prior agreements among them, with respect to the subject matter hereof, (c) may be modified, waived or assigned only in writing and only to the extent such modification, waiver or assignment would be permitted under the Transaction Documents (and any attempt to assign this Letter Agreement without such writing shall be null and void), (d) is a negotiated document, entered into freely among the parties upon advice of their own counsel, and it should not be construed against any of its drafters and (e) shall survive the satisfaction or discharge of the amounts owing under the Transaction Documents. The fact that any term or provision of this Letter Agreement is held invalid, illegal or unenforceable as to any person in any situation in any jurisdiction shall not affect the validity, enforceability or legality of the remaining terms or provisions hereof or the validity, enforceability or legality of such offending term or provision in any other situation or jurisdiction or as applied to any person.

This Letter Agreement is expressly conditioned on the following conditions precedent:

● The Company's Board of Directors shall have approved this Letter Agreement and all undertakings thereto in all respects and shall provide written evidence of the same to the Investors by August 14, 2025; and

● The Company shall have verified and confirmed with its transfer agent that there are no impediments to the issuance of shares as a result of this Letter Agreement.

Kindly confirm your agreement with the above by signing in the space indicated below and by PDFing a partially executed copy of this letter to the undersigned, and which may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement.

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| | |
|:---|:---|
| Very truly yours, | Very truly yours, |
| Capstone Holding Corp. | Capstone Holding Corp. |
| By: | /s/ Matthew Lipman |
| Name: | Matthew Lipman |
| Title: | Chief Executive Officer |
| AGREED AND ACCEPTED: | AGREED AND ACCEPTED: |
| 3i, LP | 3i, LP |
| By: 3i Management LLC, As General Partner | By: 3i Management LLC, As General Partner |
| By: | /s/ Maier J. Tarlow |
| Name: | Maier J. Tarlow |
| Title: | Manager |

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