Summary by Futu AI
On November 11, 2024, SaverOne 2014 Ltd., a technology company, issued an unsecured nonconvertible promissory note to investment firm YA II PN, LTD., also known as Yorkville, for $1,000,000. The note, bearing an 8% interest rate, is set to mature on November 11, 2025, and includes a 3% original issue discount. Repayment is structured in 10 equal monthly installments starting 90 days after issuance. The company may choose to repay the outstanding principal and accrued interest in cash or through proceeds from an equity purchase agreement with Yorkville, which allows SaverOne to sell up to $15 million of its American Depositary Shares to Yorkville. This agreement has already been utilized by SaverOne to receive an advance of $3 million from Yorkville. The promissory note and its terms were detailed in a report filed with the United States Securities and Exchange Commission.