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

View on SEC.gov

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

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micromobility.com Inc. filing history →

Source: SEC EDGAR

accession 0001079973-22-001489

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