Summary by Futu AI
Micromobility.com, Inc. has announced the issuance of 3,300,000 shares of its common stock to YA II PN, Ltd., also known as Yorkville, at a price of approximately $0.005 per share. This transaction, dated March 15, 2024, is part of a Standby Equity Purchase Agreement (SEPA) with Yorkville, which was established on March 7, 2023. Under the SEPA, Yorkville has committed to purchasing up to $50 million worth of Micromobility.com's common stock over a 24-month period. The total purchase price for this specific issuance is $19,140, which Micromobility.com has used to repay a portion of the principal amount owed to Yorkville from an outstanding loan. Additionally, the prospectus supplement covers the potential resale of these shares by Yorkville to the public. The company's common...Show More