Summary by Moomoo AI
On January 4, 2024, Cardio Diagnostics Holdings, Inc. and YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP, mutually agreed to terminate their Securities Purchase Agreement originally dated March 8, 2023. The agreement, which had facilitated the issue and sale of a $5.0 million Convertible Debenture by Cardio Diagnostics to Yorkville, also outlined the conditions for a second Convertible Debenture worth $6.2 million. However, the first debenture has been fully repaid and the obligations for the second debenture have now been nullified with no outstanding borrowings, advance notices, or shares to be issued. The termination of the agreement did not incur any fees for either party.
