aibioVolitionRx prepays $500,000 on Lind note and defers two monthly payments
Tickers VNRX
The remaining balance is $706,667 after the payment. Lind agreed not to convert before January 1, 2027 unless the stock closes at $0.275 or more.
Key facts
- Company
- VOLITIONRX LTD (NYSE: VNRX)
- News type
- Debt Financing
- Primary source
- VolitionRx press release (SEC Form 8-K)
The prepayment and the waiver
VolitionRx Limited made a $500,000 cash prepayment on its senior secured convertible promissory note, the company said in a press release filed with a Form 8-K on October 27, 2026. The note is dated January 15, 2026, with an original principal amount of $2,400,000, and it is held by Lind Global Asset Management XII LLC. After the prepayment, the outstanding balance is $706,667.
Volition and Lind signed a waiver and consent with three terms. Lind agreed to accept the prepayment. Lind also agreed not to exercise its conversion rights under the note on or before January 1, 2027, unless the closing price of Volition's common stock equals or exceeds $0.275 per share. The parties agreed to defer the monthly repayments due in November and December 2026. Those amounts stay in outstanding principal until they are paid.
The deferral does not reduce what Volition owes. It moves two monthly payments into principal. The conversion pause is also conditional: if the stock closes at or above $0.275 before the date, Lind can convert, and the release does not say how many shares a conversion would produce.
The earlier note
Volition also said a separate senior secured convertible promissory note dated May 20, 2025, in the original principal amount of $7,500,000, was fully satisfied in September 2026 and is no longer outstanding. That note was also issued to Lind. The company's chief executive, Cameron Reynolds, said the company has extinguished over $5.0 million across both notes since June 30, 2026, and he called further debt and expense reduction "a top priority." The release names no placement agent, underwriter or advisor for either note, and it names no counsel.
The company expects to satisfy the remaining note well before its maturity. That is the company's own forecast. The release does not give a maturity date, a repayment schedule for the deferred amounts or the terms of the earlier note.
The money behind the notes
The annual report shows revenue of $1.7 million for 2025, against $1.2 million for 2024. Research and development expense fell to $10.1 million from $14.4 million. The net loss narrowed to $23.4 million from $27.0 million. Cash used in operations was $19.7 million for 2025, down from $25.9 million in 2024.
Cash is the tight point. Year-end cash and cash equivalents were $1.1 million for 2025, compared with $3.3 million for 2024. At June 30, 2026, cash and cash equivalents were $2.8 million, according to the company's 10-Q. Set against $19.7 million of operating cash use in 2025, that balance is small. Volition still owes $706,667 on the Lind note after this payment, and the deferred monthly amounts remain on top of that.
The release gives no sales figures for its blood tests. The business description says Volition is developing and commercializing blood tests for cancers and for diseases associated with NETosis, such as sepsis. The release includes no clinical data, no regulatory status and no timeline for those tests.
What comes next
The company expects to satisfy the note early, and the conversion pause runs to January 1, 2027. The release does not say how Volition will fund the remaining $706,667, the two deferred payments or the operating costs that sit above its cash balance. Under the waiver, Lind cannot convert before January 1, 2027 unless the stock closes at or above $0.275, which makes that closing price the term to watch.
The release and the company's reported figures show a company paying down a lender from a small cash balance while deferring part of the debt service.