On September 20, 2023, Heart Test Laboratories, Inc. entered into multiple definitive license agreements (collectively, the ?License Agreements?) with Icahn School of Medicine at Mount Sinai (?Mount Sinai?) to commercialize a range of AI-based cardiovascular algorithms developed by Mount Sinai, as well as a memorandum of understanding for ongoing cooperation. On December 1, 2023, the Company satisfied the Additional Financing requirement and, accordingly, the License Agreements are no longer subject to termination as a result of the Additional Financing condition. On December 1, 2023, the Company satisfied the Additional Financing requirement and, accordingly, the License Agreements are no longer subject to termination as a result of the Additional Financing condition, and the MTS Warrants are fully exercisable, by Mount Sinai.
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