Yimutian Inc. Issues $2.5M Senior Convertible Note in Fourth Tranche Under December 2025 Securities Purchase Agreement
Yimutian Inc. issued a senior unsecured convertible promissory note in the principal amount of $2,500,000 (the Third Additional Note) on October 23, 2026, as part of a securities purchase agreement entered into on December 8, 2025, pursuant to which the company agreed to issue and sell up to $30,000,000 in senior convertible notes convertible into American depositary shares. The Third Additional Note has an initial conversion price of $0.5378 per ADS and matures on October 23, 2027. Including this issuance, the...
Key takeaways
Yimutian Inc. closed on an additional $2.5 million senior convertible note tranche, bringing cumulative issuances to $8.56 million under the $30 million securities purchase agreement
The Third Additional Note carries a conversion price of $0.5378 per ADS with a maturity date of October 23, 2027
The notes contain standard and customary affirmative and negative covenants, including limitations on senior indebtedness, restrictions on cash dividends, asset transfers, and affiliate transactions
The company is required to maintain available cash of at least $500,000 as of the last calendar day of each successive six month period
Events of default include suspension from trading, failure to make payments when due, and bankruptcy or insolvency, with interest rate increasing to 19% per annum upon default
The issuance was made in reliance upon Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D
Primary source
TickerStar generated this brief from an official company, investor-relations, earnings-call, or regulatory source. Review the primary material before making an investment decision.
Open SEC filingFollow YMT in real time
Get material earnings, filing, IR, and earnings-call alerts by email.