Cardio Diagnostics terminates $11.2M convertible debenture agreement with Yorkville

Cardio Diagnostics Holdings, Inc.

Mutual termination of Securities Purchase Agreement effective Jan 4, 2024; no fees or penalties due.
First $5.0M debenture (issued for $4.5M) had been fully repaid before termination.
Second $6.2M debenture ($5.58M purchase price) was never issued; conditions remained unsatisfied.
No outstanding borrowings, advance notices, or shares to be issued under the agreement at termination.

Key facts

Extracted from this filing and checked against the source text.

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

Cardio Diagnostics Holdings, Inc. terminated Securities Purchase Agreement with YA II PN, Ltd. valued at up to $11.2 million (effective 2024-01-04).

Action: termination
Agreement: equity purchase
Counterparty: YA II PN, Ltd.
Value: up to $11.2 million
Effective: 2024-01-04

Exact text from the filing

On January 4, 2024, Cardio Diagnostics Holdings, Inc. (the “Company”) and YA II PN, Ltd. (“Yorkville”), an affiliate of Yorkville Advisors Global, LP, terminated the Securities Purchase Agreement dated as of March 8, 2023, as amended (the “Securities Purchase Agreement”) by the mutual consent of the parties, effective as of January 4, 2024.

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Cardio Diagnostics Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001079973-24-000021

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