NEWS
ARMLOGI HOLDING CORP. ANNOUNCES UP TO $21 MILLION CONVERTIBLE PROMISSORY NOTES AND $50 MILLION STANDBY EQUITY PURCHASE AGREEMENT
Armlogi Holding Corp (Nasdaq: BTOC) has secured significant financing through two arrangements: a Standby Equity Purchase Agreement (SEPA) worth up to $50 million with YA II PN, , and convertible promissory notes totaling $21 million. The SEPA allows the company to sell common stock to YA over a two-year period, with an initial pre-paid advance of $5 million already received. The funding will be used for working capital, general corporate purposes, and repayment of pre-paid advances. The agreement includes provisions for YA to purchase shares through advance notices, subject to certain conditions including SEC registration of the common stock.
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