RICHTECH ROBOTICS INC. (RR): debt financing — Richtech Robotics issues $1M convertible note to YA II PN at 8% interest, maturity Feb 2025

RICHTECH ROBOTICS INC.

Principal $1M, purchase price $960k (4% original issue discount).
Interest 8% per annum; maturity Feb 15, 2025.
Monthly installments start May 15, 2024; payable in cash or via SEPA advances.
Conversion price $6.00/share, resets to 5-day VWAP (floor $1.50) on May 28, 2024.
Optional redemption at 10% premium with 10 trading days' notice.

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

RICHTECH ROBOTICS INC. incurred convertible notes of $1,000,000 with YA II PN, Ltd. at 8% per annum maturing February 15, 2025.

Instrument: convertible notes
Principal: $1,000,000
Counterparty: YA II PN, Ltd.
Rate: 8% per annum
Maturity: February 15, 2025
Event: incurrence

Exact text from the filing

On April 15, 2024, Richtech Robotics Inc., a Nevada corporation (the “ Company ”) issued a promissory note in the principal amount of $1,000,000 (the “ Note ”) to YA II PN, Ltd. (the “ Investor ”) pursuant to the Standby Equity Purchase Agreement between the Company and the Investor, dated February 15, 2024, as amended by a letter agreement on March 14, 2024

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Source: SEC EDGAR

accession 0001213900-24-035034

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