Micromobility.Com Inc. Secures $2.5 Million Financing from Yorkville Under New Equity Agreement
Micromobility.Com Inc. has entered into a new financing arrangement with Yorkville through an agreement known as the October SEPA. Under this agreement, Yorkville advanced a total of $2,500,000 to the company in exchange for a promissory note of the same amount. Of the funds, $1,300,000 was initially advanced and placed in escrow to settle a judgment with Bernheim Investment Fund SICAV, while the remaining $1,200,000 was advanced following the settlement's conclusion. Portions of these funds were allocated to repay a previous promissory note issued to Yorkville, cover an implementation fee, and provide working capital for the company. This new agreement follows the mutual termination of a prior equity purchase agreement between the two parties, with Yorkville waiving associated fees.
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