Beneficient signs $250M equity purchase agreement with YA II PN (Yorkville)

Beneficient

Company can sell up to $250M of Class A common stock to Yorkville over 36 months.
Pricing at 95% (Option 1) or 97% (Option 2) of VWAP during specified pricing periods.
Commitment fee of $1.25M payable in shares; structuring fee of $25,000 paid.
Yorkville cannot purchase shares exceeding 9.99% beneficial ownership or 19.99% of outstanding.
Yorkville agrees not to engage in short-selling or hedging during the term.

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

Beneficient entered into Standby Equity Purchase Agreement with YA II PN, Ltd. ("Yorkville") valued at $250,000,000 (effective 2023-06-27).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, Ltd. ("Yorkville")
Value: $250,000,000
Effective: 2023-06-27

Exact text from the filing

On June 27, 2023, Beneficient, a Nevada corporation (“ Beneficient ”), entered into a Standby Equity Purchase Agreement (the “ SEPA ”) with YA II PN, Ltd. (“ Yorkville ”). Pursuant to the SEPA, the Company shall have the right, but not the obligation, to sell to Yorkville up to $250,000,000 of Class A common stock

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38 material agreements filed in the last 30 days. Browse all material agreements →

Beneficient filing history →

Source: SEC EDGAR

accession 0001193125-23-176862

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