Odyssey Semiconductor Technologies, Inc. announced a private placement that it has issued a secured convertible promissory note for the gross proceeds of $30,000 on December 26, 2023. The transaction included participation from returning investor Nina and John Edmunds 1998 Family Trust. The Promissory Note bears interest at a rate of 10%per annum, on a non-compounding basis, and is due and payable on the earlier of (i) the date upon which the Promissory Note is converted into equity securities of the Company, or (ii) June 30, 2025.

All interest due shall be paid in shares of the Company?s common stock, which shall be valued at a price equal to the average of the last 20 trading days? closing price of the Company?s common stock, commencing on the date immediately preceding the date of conversion for purposes of the interest computation. The issuance of the Promissory Note is intended to be in reliance upon the exemption from registration provided for under Section 4(a)(2) of the Securities Act of 1933, as amended and Rule 506(b) of Regulation D promulgated thereunder.