Yimutian issues US$933,333 convertible note in unregistered placement at US$2.12 per ADS
YMT•Convertible note placement
Yimutian priced an unregistered sale of securities via a US$933,333 senior convertible promissory note in a private placement.
The note converts into ADSs at an initial conversion price of US$2.12 per ADS and has a maturity date of Sept. 8, 2027.
The transaction expands a Securities Purchase Agreement that allows issuance of up to US$30 million of senior convertible promissory notes.
The offering relied on the Securities Act Section 4(a)(2) exemption, with Rule 506(b) of Regulation D.
