other material
confidence high
sentiment positive
materiality 0.75
IGTA enters $30M standby equity facility with YA II PN; $3M pre-paid advances at 8% discount
Inception Growth Acquisition Ltd
- Pre-paid advances total $3M: $2M at business combination close; $1M after registration effective and shareholder approval.
- SEPA allows IGTA to issue up to $30M in common stock to YA II PN on a discretionary basis, subject to conditions.
- Original issue discount of 8% on pre-paid advances; promissory notes are convertible into shares.
- Investor may also trigger advances while promissory note outstanding, using a conversion price.
- Concurrent Registration Rights Agreement and Global Guaranty Agreement entered into with YA II PN.