Peak Bio, Inc. announced that it has entered into a convertible note agreement with certain investors pursuant to which the Convertible Note Investors purchased and the Company issued to the Convertible Note Investors Convertible Notes in the aggregate principal amount of $1,324,500 on May 28, 2024. The Convertible Notes provides that the Company may, in one or more closings, raise in excess of $3,250,000 at the Company?s sole discretion. The Convertible Notes carry an interest rate of 10% per annum, have a maturity date of December 18, 2024, and provide for security interest in the Company?s intellectual property, automatic conversion and registration rights.