NEWS
ImmunoPrecise Announces Financing Agreement with Yorkville Advisors Global, LP of up to $3.0 Million Aggregate Principal Amount of Convertible Debentures
ImmunoPrecise Antibodies (IPA) has entered into a $3.0 million convertible debenture agreement with Yorkville Advisors Global, LP. The deal includes two tranches: $2.0 million completed on July 16, 2024, and $1.0 million pending SEC approval. Key features:
- 8.0% annual interest rate
- Convertible to common shares at the lower of $1.16 or 95% of the lowest 10-day VWAP
- Redeemable if stock price is below $1.16
- Monthly payments required if stock price falls below $0.20
- Conversion to $300,000 per 30-day period if price is below $1.16
Proceeds will be used for R&D, capital expenditures, and working capital. Clear Street acted as placement agent.
- 8.0% annual interest rate
- Convertible to common shares at the lower of $1.16 or 95% of the lowest 10-day VWAP
- Redeemable if stock price is below $1.16
- Monthly payments required if stock price falls below $0.20
- Conversion to $300,000 per 30-day period if price is below $1.16
Proceeds will be used for R&D, capital expenditures, and working capital. Clear Street acted as placement agent.
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