Armlogi enters $50M standby equity purchase agreement with YA II PN

Armlogi (BTOC) Holding last night announced that it has entered into a standby equity purchase agreement with YA II PN, a fund managed by Yorkville Advisors Global. YA is committed to purchase up to $50M of the company’s common stock at any time during the two-year period following the execution date of the agreement. YA will advance to Armlogi the principal amount of $21M, which will be evidenced by convertible promissory notes in three tranches. The company has received an initial pre-paid advance of $5M. Armlogi intends to use the proceeds for working capital and other general corporate purposes, and to repay any pre-paid advances. D. Boral Capital acted as the exclusive placement agent for the offering.