C-Bond Systems, Inc. announced that it has entered into a purchase agreement for the issuance of a secured promissory note for gross proceeds of $175,000 on April 4, 2023. The note accrues interest at 8% per annum, compounded annually, and all outstanding principal and accrued interest is due and payable of April 4, 2025. At any time, the company may prepay all or any portion of the principal amount of the Note and any accrued and unpaid interest without penalty.

The note will bear a maturity date of April 4, 2025 and will be issued at par.