VolitionRx failed to maintain the minimum market capitalization required under its senior secured convertible promissory notes. The company entered into a waiver agreement with Lind Global Asset Management XII LLC on May 21, 2026. Lind has waived its rights to accelerate debt repayment or foreclose on collateral due to this specific covenant breach. The breach triggered an additional payment obligation equal to 10% of the outstanding principal amount of the notes. The waiver allows for the conversion of outstanding principal into common stock at a discounted rate based on recent volume-weighted average prices (VWAP).