Collective Audience, Inc. announced that it has entered into a securities purchase agreement with an accredited investor which provided for the issuance and sale by the Company to the Holder of a convertible promissory note in the aggregate principal amount of $100,000 on March 31, 2024. The March 2024 Convertible Note is convertible into shares of the Company?s common stock, par value $0.0001 pursuant to certain conditions, as set forth in the March 2024 Convertible Note. The March 2024 Convertible Note in the aggregate principal amount of $100,000 has a 2 years maturity from the Closing Date with an interest rate of 8% per annum payable on a quarterly basis or, at the option of the Company, added to the principal amount under the note.

The conversion price shall be the lesser of $2.50 and 75% of the average of the three lowest VWAP for the Common Stock for a trading day on the trading market during the 20-day trading period immediately prior to the conversion date.