Legacy Education Alliance, Inc. announced that it has entered into a Securities Purchase Agreement with an accredited investor , pursuant to which the Company issued to the Investor a Convertible Promissory Note having a principal amount of $100,000 and a Common Stock Purchase Warrant to purchase up to a certain amount of shares of the Company?s common stock for the gross proceeds of $100,000 on November 14, 2023. Pursuant to the Purchase Agreement, the Company granted the Investor the right to have the Company register the resale of the Common Stock underlying the Note and SPA Warrant with the Securities and Exchange Commission. The maturity date of the Note is 12 months from the issue date, with the option to extend for up to 6 months in the sole discretion of the Company upon prior written notice to the Investor and is the date upon which the principal and interest shall be due and payable.

The Note bears interest at a fixed rate of 8% per annum. Any overdue accrued and unpaid interest shall entail a late fee at an interest rate equal to the lesser of 12% per annum or the maximum rate permitted by applicable law, which shall accrue daily from the date such interest is due through and including the date of actual payment in full.