secwatch.observer — SEC 8-K summary
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Issuer:     Evolution Metals & Technologies Corp. (EMAT)
CIK:        0001866226
Form:       8-K
Filed at:   2026-05-11T23:59:59+00:00
Accession:  0001213900-26-054183
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/ea0290073-8k_evolution.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-054183

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