Edoc Acquisition Corp. announced a private placement of convertible bonds and warrants for the gross proceeds of $7,000,000 on August 23, 2023. The transaction will include participation from new investor, Australian Oilseeds Investments Pty Ltd. The first tranche of $2,000,000 is subjected to shareholder's approval.

The second closing amount of $2,500,000 will be invested on the 60th trading day following the First Registration Statement Effectiveness Date filed by Pubco after the Closing of the Business Combination, which will be the second closing date of the Investment, in exchange for a Debenture to be issued by Pubco for the principal amount of $2,777,777 and the third closing amount of $2,500,000 will be invested on the 60th trading day following the Second Registration Statement Effectiveness Date filed by Pubco, which will be the third closing date of the Investment in exchange for a Debenture to be issued by Pubco for the principal amount of $2,777,777, reflecting that such Debenture is to be issued with a 10% original issue discount. Each Debenture will mature on the date that is eighteen months from the First Closing Date and is convertible at any time at the holder?s option at a conversion price of 92.5% of the average of the three lowest daily VWAP of the Pubco Ordinary Shares for the ten consecutive Trading Day period ending on such Conversion Date, subject to adjustment and certain floor prices for each tranche of Debenture.