An announcement from Ideanomics (IDEX) is now available.
A company amended its promissory note on April 25, 2024, increasing the loan amount to $4,137,095, followed by another amendment on May 29, bringing the total to $7,217,095, which included a new $3,000,000 advance. Both notes feature a 16% interest rate, with installments due weekly based on the greater of $250,000 or 100% of net proceeds from a Standby Equity Purchase Agreement (SEPA) with YA II PN, LTD. Additionally, on April 15, 2024, the company amended its SEPA, now allowing them to sell up to 10,000,000 shares to YA II, under specified conditions, enhancing its liquidity options.
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