INVO Bioscience, Inc. announced that it has entered into a securities purchase agreement with accredited investors for private placement of unsecured convertible notes for gross proceeds of $275,000 on January 4, 2023. The company will also issue 5-year warrants to purchase 275,000 shares of the company's common stock at an exercise price of $1.00. Interest on the Notes accrues at a rate of 10% per annum and is payable at the holder's option either in cash or in shares of the Company's common stock at the conversion price in the Note on December 31, 2023.

The company will issue securities pursuant to exemption provided under Regulation D. The Company did not use any placement agent in the transaction. The Company may prepay the Notes at any time in whole or in part by paying a s sum of money equal to 100% of the principal amount to be redeemed, together with accrued and unpaid interest.