Sadot Group Inc. (SDOT): debt financing — Sadot Group enters $25M SEPA with Yorkville plus $4M convertible note facility

Sadot Group Inc.

Up to $25M equity line; Company sells shares at 97% of lowest daily VWAP over 3 consecutive trading days.
$4M convertible note: $3M initial disbursed Sep 22, 2023; $1M upon registration effective; 6% interest, 12-month maturity.
Conversion price: lower of $1.11495 or 95% of 7-day VWAP; floor price $0.33 per share.
Yorkville limited to 4.99% beneficial ownership; $25k due diligence fee and 227,273 commitment shares paid.
After triggers (VWAP below floor or 99% exchange cap used), monthly payments of $500k plus 8% premium begin.

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

Sadot Group Inc. incurred convertible notes of $4.0 million with YA II PN, LTD at 6.0% maturing 12-months after the initial closing.

Instrument: convertible notes
Principal: $4.0 million
Counterparty: YA II PN, LTD
Rate: 6.0%
Maturity: 12-months after the initial closing
Event: incurrence

Exact text from the filing

In connection with the SEPA, and subject to the condition set forth therein, Yorkville has agreed to advance to the Company in the form of convertible promissory notes (the “Convertible Notes”) an aggregate principal amount of $4.0 million (the “Pre-Paid Advance”).

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

Sadot Group Inc. entered into Standby Equity Purchase Agreement with YA II PN, LTD valued at up to $25 million (effective 2023-09-22).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, LTD
Value: up to $25 million
Effective: 2023-09-22

Exact text from the filing

On September 22, 2023, Sadot Group Inc. (the “Company”) entered into the Standby Equity Purchase Agreement (“SEPA”) with YA II PN, LTD, a Cayman Islands exempt limited partnership (“Yorkville”) pursuant to which the Company has the right to sell to Yorkville up to $25 million of its shares of common stock

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

Sadot Group Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-033680

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