Evolution Metals & Technologies Corp. (EMAT): debt financing — EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued

Evolution Metals & Technologies Corp.

Facility of up to $100M convertible debentures; initial tranche of $20M issued May 7, 2026, second $5.775M upon S-1 effectiveness.
Conversion at lower of $12.09 or 95% of 5-day VWAP; 5% interest; matures Nov 7, 2027; amortization events trigger monthly cash payments.
Proceeds to expand rare earth magnet production and develop a U.S. industrial campus; Phase I to be largest hydrometallurgical facility in Western Hemisphere.
Registration rights for 5.4M resale shares; Exchange Cap and 4.99% beneficial ownership limitation apply.
Clear Street LLC acted as sole advisor and placement agent on the transaction.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

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

Evolution Metals & Technologies Corp. incurred convertible notes of $20,000,000 with YA II PN, LTD. (Yorkville) at 5.0% maturing November 7, 2027.

Instrument: convertible notes
Principal: $20,000,000
Counterparty: YA II PN, LTD. (Yorkville)
Rate: 5.0%
Maturity: November 7, 2027
Event: incurrence

Exact text from the filing

The first Convertible Debenture (the “First Debenture”) in the principal amount of $20,000,000 was issued on May 7, 2026.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.7

Evolution Metals & Technologies Corp. incurred convertible notes of $5,775,000 with YA II PN, LTD. (Yorkville) at 5.0% maturing November 7, 2027.

Instrument: convertible notes
Principal: $5,775,000
Counterparty: YA II PN, LTD. (Yorkville)
Rate: 5.0%
Maturity: November 7, 2027
Event: incurrence

Exact text from the filing

The second Convertible Debenture in the principal amount of $5,775,000 is expected to be issued upon effectiveness of the Registration Statement on Form S-1, which the Company has agreed to file pursuant to the Registration Rights Agreement, as such term is defined below.

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Evolution Metals & Technologies Corp. issued convertible note to YA II PN, LTD. (Yorkville) for $100,000,000 aggregate principal amount.

Security: convertible note
Purchaser: YA II PN, LTD. (Yorkville)
Consideration: $100,000,000 aggregate principal amount

Exact text from the filing

The first Convertible Debenture (the “First Debenture”) in the principal amount of $20,000,000 was issued on May 7, 2026.

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Evolution Metals & Technologies Corp. issued convertible note to YA II PN, LTD. (Yorkville) for $100,000,000 aggregate principal amount.

Security: convertible note
Purchaser: YA II PN, LTD. (Yorkville)
Consideration: $100,000,000 aggregate principal amount

Exact text from the filing

the Company agreed to issue and sell to Yorkville convertible debentures in the aggregate principal amount of up to $100,000,000

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

Evolution Metals & Technologies Corp. entered into Securities Purchase Agreement with YA II PN, LTD. valued at up to $100,000,000 (effective 2026-05-07).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, LTD.
Value: up to $100,000,000
Effective: 2026-05-07

Exact text from the filing

On May 7, 2026, Evolution Metals & Technologies Corp. (“EMAT” or the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with YA II PN, LTD. (“Yorkville”), a fund managed by Yorkville Advisors Global, LP, pursuant to which the Company agreed to issue and sell to Yorkville convertible debentures in the aggregate principal amount of up to $100,000,000

View on SEC.gov

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

Evolution Metals & Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001213900-26-054183

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