[sheet: Cover & Summary]
Field | Detail
Document Title | Closing Funds Flow Memorandum
Transaction | Series Seed Preferred Stock Financing of Meridian Diagnostics, Inc.
Closing Date | February 9, 2026 (Simultaneous Sign-and-Close)
Aggregate Funding Amount | $12,000,000
Securities Issued | 4,479,981 shares of Series Seed Preferred Stock at $2.6786 per share
Securities Exemption | Regulation D, Rule 506(b)
Prepared By | Leila Nazari / Garrett Simmons, Calderwood & Harkness LLP
C&H Matter Number | 1004-00001
C&H Address | 1800 Page Mill Road, Suite 200, Menlo Park, CA 94025
Responsible Partner | Kevin Ostrowski, Partner, Calderwood & Harkness LLP
Billing Partner | Rachel Bernstein, Partner, Calderwood & Harkness LLP
Issuer | Meridian Diagnostics, Inc., a Delaware C-Corporation
Issuer EIN | 93-4127856
Issuer Principal Office | 225 Binney Street, Suite 400, Cambridge, MA 02142
Lead Investor | Cobalt Ventures Fund III, LP (investing vehicle of Cobalt Ventures LP)
Lead Investor Internal Counsel | Morgan Tsai, VP of Legal Affairs, Cobalt Ventures LP
Company Counsel | Whitfield & Ames LLP (Catherine Devereaux / Thomas Whitaker)
Company Counsel Address | 100 Federal Street, 30th Floor, Boston, MA 02110
Escrow Agent | Granite Trust Company, N.A.
Escrow Agent Contact | Denise Fairbanks, Relationship Manager
Escrow Agent Address | 1600 Market Street, 12th Floor, Philadelphia, PA 19103
Governing Law | State of Delaware
[sheet: Investor Funding Detail]
Item No. | Investor Full Legal Name | Entity Type | Jurisdiction of Organization | EIN | Address | Contact Person | Contact Title | Investment Amount | Percentage of Round | Shares of Series Seed Preferred | Price Per Share | Major Investor Status | Wire Reference / Memo | Wire Deadline
1 | Cobalt Ventures Fund III, LP | Limited Partnership | Delaware | 85-2093147 | 2400 Sand Hill Road, Suite 310, Menlo Park, CA 94025 | Morgan Tsai | VP of Legal Affairs, Cobalt Ventures LP | $7,200,000 | 60.0% | 2,687,989 | $2.6786 | Yes (≥1,000,000 shares) | Meridian Seed — Cobalt Fund III | February 9, 2026
2 | Pinewood Health Ventures, LLC | LLC | Delaware | 88-3451209 | 450 Park Avenue, 18th Floor, New York, NY 10022 | Sandra Kessler | Managing Member | $2,400,000 | 20.0% | 895,996 | $2.6786 | No | Meridian Seed — Pinewood | February 9, 2026
3 | Thornfield Capital Partners, LP | Limited Partnership | Delaware | 87-6294013 | 555 Montgomery Street, Suite 1200, San Francisco, CA 94111 | Brian Lund | Partner | $1,800,000 | 15.0% | 671,997 | $2.6786 | No | Meridian Seed — Thornfield | February 9, 2026
4 | Atlas Point Angel Syndicate, LLC | LLC | Delaware | 92-1578430 | 1100 Congress Avenue, Suite 750, Austin, TX 78701 | Victor Dominguez | Syndicate Manager | $600,000 | 5.0% | 223,999 | $2.6786 | No | Meridian Seed — Atlas Point | February 9, 2026
TOTAL | $12,000,000 | 100.0% | 4,479,981 | $2.6786
[sheet: Escrow Account — Wire Instructi]
Field | Detail
Receiving Bank | Granite Trust Company, N.A.
Bank Address | 1600 Market Street, 12th Floor, Philadelphia, PA 19103
ABA Routing Number | 031-209-874
Account Name | Granite Trust Co. N.A. — Escrow Account FBO Meridian Diagnostics, Inc.
Account Number | 8847-2103-56
SWIFT Code | GRNTUS33
Reference / Memo Line | Meridian Diagnostics Series Seed Escrow — [Investor Name]
Relationship Manager | Denise Fairbanks
Phone | (215) 555-0194
Email | dfairbanks@granitetrust.com
Escrow Release Condition | Satisfaction of all conditions to closing under Section 5 of the SPA, as confirmed by written notice from Calderwood & Harkness LLP on behalf of the lead investor
Total Escrow Deposit | $12,000,000
[sheet: Funds Flow — Step-by-Step]
Step No. | Timing | From | To | Amount | Description | Wire Reference | Status
1 | On or before 10:00 AM ET, February 9, 2026 | Cobalt Ventures Fund III, LP | Granite Trust Company, N.A. — Escrow Account | $7,200,000 | Deposit of Cobalt investment amount into escrow | Meridian Seed — Cobalt Fund III | Pending
2 | On or before 10:00 AM ET, February 9, 2026 | Pinewood Health Ventures, LLC | Granite Trust Company, N.A. — Escrow Account | $2,400,000 | Deposit of Pinewood investment amount into escrow | Meridian Seed — Pinewood | Pending
3 | On or before 10:00 AM ET, February 9, 2026 | Thornfield Capital Partners, LP | Granite Trust Company, N.A. — Escrow Account | $1,800,000 | Deposit of Thornfield investment amount into escrow | Meridian Seed — Thornfield | Pending
4 | On or before 10:00 AM ET, February 9, 2026 | Atlas Point Angel Syndicate, LLC | Granite Trust Company, N.A. — Escrow Account | $600,000 | Deposit of Atlas Point investment amount into escrow | Meridian Seed — Atlas Point | Pending
5 | Upon confirmation of satisfaction of all closing conditions | Granite Trust Company, N.A. — Escrow Account | Meridian Diagnostics, Inc. — Operating Account | $11,950,000 | Release of net investment proceeds to company operating account (aggregate investment less legal fee reimbursement) | Meridian Seed Closing Proceeds | Pending
6 | Simultaneously with Step 5 | Meridian Diagnostics, Inc. (directed from escrow) | Cobalt Ventures Fund III, LP | $50,000 | Legal fee reimbursement payable by Meridian to Cobalt (capped at $50,000 per SPA Section 10) | Meridian — Legal Fee Reimbursement | Pending
[sheet: Company Account — Wire Instruct]
Field | Detail
Account Holder | Meridian Diagnostics, Inc.
Account Holder EIN | 93-4127856
Account Holder Address | 225 Binney Street, Suite 400, Cambridge, MA 02142
Receiving Bank | Harborstone National Bank, N.A.
Bank Address | 200 Ashbury Asset Advisors, Boston, MA 02109
ABA Routing Number | 021-473-218
Account Name | Meridian Diagnostics, Inc. — Operating Account
Account Number | 3301-8847-92
SWIFT Code | HBSTUS33
Reference / Memo Line | Series Seed Closing Proceeds — February 9, 2026
Authorized Signatory for Confirmation | Dr. Priya Ramaswamy, CEO & President
Net Amount to be Received | $11,950,000
[sheet: Legal Fee Reimbursement — Wire ]
Field | Detail
Payee | Cobalt Ventures Fund III, LP
Payee EIN | 85-2093147
Payee Address | 2400 Sand Hill Road, Suite 310, Menlo Park, CA 94025
Receiving Bank | Pacific Commerce Bank, N.A.
Bank Address | 3000 Sand Hill Road, Menlo Park, CA 94025
ABA Routing Number | 121-508-347
Account Name | Cobalt Ventures Fund III, LP — Operating Account
Account Number | 6610-4429-17
SWIFT Code | PCBKUS66
Reference / Memo Line | Meridian Diagnostics — Legal Fee Reimbursement per SPA
Amount | $50,000
Description | Reimbursement of legal fees and expenses of lead investor's counsel (Calderwood & Harkness LLP), capped at $50,000 pursuant to the Series Seed Preferred Stock Purchase Agreement
Authorized Contact at Cobalt | Morgan Tsai, VP of Legal Affairs