Armlogi Holding Corp. announced it has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd., a fund managed by Yorkville Advisors Global, LP. Under the SEPA, Armlogi has the right to sell up to $50 million of its common stock over a two-year period.
Additionally, YA will advance to Armlogi a principal amount of $21 million as a Pre-Paid Advance, evidenced by convertible promissory notes, to be disbursed in three tranches. The company has already received an initial Pre-Paid Advance of $5 million in connection with the execution of the SEPA.
The proceeds from this offering are intended for working capital and other general corporate purposes, as well as to repay any pre-paid advances. This financing arrangement provides Armlogi with flexible capital to support its strategic plans and expand its supply-chain solutions platform.
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