micromobility.com Inc. (MCOM): debt financing — Micromobility issues $1.5M convertible promissory note to Yorkville at $0.25 conversion

micromobility.com Inc.

Issued $1.5M principal convertible note to YA II PN, Ltd. with 15% original issue discount (~$1.275M net).
Conversion price of $0.25 per share; holder limited to 4.99% beneficial ownership cap.
Matures Feb. 29, 2024; 15% default interest; cash repayment carries 5% redemption premium.
Proceeds to be used for working capital and general corporate purposes.

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 $1.5 million with YA II PN, Ltd. at 15% per year maturing February 29, 2024.

Instrument: convertible notes
Principal: $1.5 million
Counterparty: YA II PN, Ltd.
Rate: 15% per year
Maturity: February 29, 2024
Event: incurrence

Exact text from the filing

we issued and sold a convertible promissory note with an aggregate principal amount of $1.5 million (the “Promissory Note”) in a private placement to YA II PN, Ltd. (“Yorkville”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

micromobility.com Inc. entered into Promissory Note with YA II PN, Ltd. (Yorkville) valued at $1.5 million (effective 2023-10-26).

Action: entry
Agreement: notes offering
Counterparty: YA II PN, Ltd. (Yorkville)
Value: $1.5 million
Effective: 2023-10-26

Exact text from the filing

On October 26, 2023, we issued and sold a convertible promissory note with an aggregate principal amount of $1.5 million (the “Promissory Note”) in a private placement to YA II PN, Ltd. (“Yorkville”) under the Standby Equity Purchase Agreement dated as of March 8, 2023 between us and Yorkville (the “SEPA”).

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

micromobility.com Inc. filing history →

Source: SEC EDGAR

accession 0001079973-23-001502

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