Evolution Metals & Technologies entered a Securities Purchase Agreement for USD 30.93 million of convertible debentures with Yorkville.
USD 22 million first debenture issued Sept. 17, 2026; USD 2 million tranche expected on registration statement filing; USD 6.93 million on effectiveness.
Debentures sold at 97% of principal; conversion price set at the lower of USD 5.02 or 95% of the prior 5-day low VWAP.
First debenture carries 4% interest, rising to 18% on an uncured default; maturity set for Sept. 17, 2028.
Cash amortization triggered by defined events; monthly payments set at one-fifth of original principal with a 5% premium.
EMAT•
