micromobility.com Inc. (MCOM): debt financing — Helbiz issues $5M convertible note to Yorkville; $3M funded Dec 1, $2M due Dec 8

micromobility.com Inc.

Issued $5M convertible promissory note to Yorkville; $3M received Dec 1, $2M due Dec 8, 2022.
Note has 10% original issue discount, conversion price of $0.50, and zero interest unless default (15%).
Repayment in five $1M installments from Jan 17 to Jan 31, 2023.
Proceeds used for working capital and general corporate purposes.
Amended August 2022 convertible debentures to clarify conversion price floor at $0.50 or 92.5% of VWAP.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

micromobility.com Inc. incurred convertible notes of aggregate principal amount of $5.0 million with YA II PN, Ltd. ("Yorkville") maturing January 31, 2023.

Instrument: convertible notes
Principal: aggregate principal amount of $5.0 million
Counterparty: YA II PN, Ltd. ("Yorkville")
Maturity: January 31, 2023
Event: incurrence

Exact text from the filing

On December 1, 2022, the Company issued and sold a convertible promissory note with an aggregate principal amount of $5.0 million (the “Promissory Note”) in a private placement to Yorkville under a supplemental agreement dated as of December 1, 2022

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

micromobility.com Inc. amended Amendment Agreement with YA II PN, Ltd. (Yorkville) (effective 2022-12-01).

Action: amendment
Agreement: notes offering
Counterparty: YA II PN, Ltd. (Yorkville)
Effective: 2022-12-01

Exact text from the filing

Simultaneous with the entry into the Supplemental Agreement, on December 1, 2022, we entered into an amendment agreement with Yorkville to revise a convertible debenture issued pursuant to a securities purchase agreement (the “August 9 SPA”) entered into on August 9, 2022 and two convertible debentures issued pursuant to a securities purchase agreement (the “August 23 SPA”) entered into on August 23, 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

micromobility.com Inc. entered into Supplemental Agreement with YA II PN, Ltd. (Yorkville) valued at $5.0 million (effective 2022-12-01).

Action: entry
Agreement: notes offering
Counterparty: YA II PN, Ltd. (Yorkville)
Value: $5.0 million
Effective: 2022-12-01

Exact text from the filing

On December 1, 2022, the Company issued and sold a convertible promissory note with an aggregate principal amount of $5.0 million (the “Promissory Note”) in a private placement to Yorkville under a supplemental agreement dated as of December 1, 2022 (the “Supplemental Agreement”) to the SEPA between the Company and Yorkville.

View on SEC.gov

10 debt financings filed in the last 30 days. Browse all debt financings →

micromobility.com Inc. filing history →

Source: SEC EDGAR

accession 0001079973-22-001489

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