Ostin Technology Group Co., Ltd. entered into a securities purchase agreement with returning investor Streeterville Capital, LLC for issuance of senior unsecured convertible note in the principal amount of $1,360,000, for gross proceeds of $1,250,000 on June 21, 2024. The note is convertible into class A ordinary shares, par value $0.0001 per share. The note bears a simple interest at a rate of 7% per annum.

All outstanding principal and accrued interest on the note will become due and payable on June 24, 2025, which is twelve months after the purchase price of the note is delivered by the buyer to the company. The note includes an original issue discount of $100,000, along with $10,000 for the buyer?s legal fees, accounting costs, due diligence, monitoring, and other transaction costs incurred in connection with the purchase and sale of the note.