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AI brief of an SEC Form 8-K · Health In Tech, Inc. (HIT)

Health In Tech issues $3.0 million promissory note to YA II PN under SEPA financing

Negative Impact 4 of 5 financing

Health In Tech, Inc. issued a second promissory note to investor YA II PN, Ltd. on November 2, 2026, with a principal amount of $3.0 million, which provided gross proceeds of $2.85 million after a 5% purchase price discount. The notes are convertible into Class A common stock at a fixed price of $1.5735 per share and can be converted into shares that could dilute existing holders, with an Exchange Cap of 13,100,378 shares that the company is seeking stockholder approval to exceed at its November 10, 2026 annual meeting.

Key points

  • Second promissory note issued November 2, 2026: $3.0 million principal, $2.85 million gross proceeds after 5% discount
  • Notes mature February 18, 2028, bear 8.75% annual interest (18% after certain defaults), and carry a 4% payment premium unless paid via stock sale proceeds
  • Conversion price fixed at $1.5735 per share with a floor price of $0.204; Exchange Cap is 13,100,378 shares, about 19.99% of outstanding Class A and Class B common stock
  • Company seeks stockholder approval to issue shares above the Exchange Cap at its annual meeting on November 10, 2026

The filing

CompanyHealth In Tech, Inc. (HIT)
Form8-K, current report
Filed with the SECNov 6, 2026, 4:34 PM ET
Accession number0001213900-26-116926

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 7:05 AM ET, from this filing only.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.