Heart Test Laboratories, Inc. announced that it will receive a Senior Unsecured Promissory Drawdown Loan Note for up to $1,000,000 in a round of funding on September 7, 2023. The transaction includes participation from Matthews Southwest, Inc. The company will issue installments consisting of (i) $250,000 on or prior to September 8, 2023, (ii) $250,000 on or prior to September 20, 2023, and (iii) further drawdowns of up to $500,000 in such amounts and such times to be mutually agreed upon between the Company and Lender.

On the same date, the company received its firs tranche. The company received $250,000 in the tranche.