Baijiayun announces standby equity purchase agreement with YA II PN

Baijiayun (RTC) announced late Friday that it 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 class shares at any time during the two-year period following the execution date of the agreement. Pursuant to the agreement, YA will advance to Baijiayun, subject to the satisfaction of certain conditions, the principal amount of up to $15M, which will be evidenced by convertible promissory notes in four tranches. The first pre-advance, in the principal amount of $3M, was advanced December 6. D. Boral Capital acted as the exclusive placement agent for the offering.