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Micromobility.com Inc. (OTC:MCOM) announced several corporate actions this week, including the settlement of a legal judgment, the entry into a new equity purchase agreement, and the termination of a previous financing arrangement, according to a press release statement and a filing with the Securities and Exchange Commission.
On Monday, the company entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd. (Yorkville), granting Micromobility.com the right to sell up to $25 million in newly issued common stock to Yorkville through October 20, 2028, or until the full commitment is reached. The purchase price for each share will be 97% of the lowest daily volume-weighted average price (VWAP) over three consecutive trading days following each sale request, subject to certain conditions. Yorkville’s ownership is limited to no more than 4.99% of Micromobility.com’s outstanding shares.
In connection with the new SEPA, Yorkville advanced $2.5 million to Micromobility.com in exchange for a promissory note. Of this amount, $1.3 million was used primarily to settle an outstanding legal judgment owed to Bernheim Investment Fund SICAV, and $1.2 million was advanced following the settlement, with $155,000 allocated to repay a previous promissory note, $250,000 for an implementation fee, and $795,000 for working capital.
The promissory note issued to Yorkville may be converted into common stock at the lower of $0.006 per share or 95% of the lowest daily VWAP over the preceding 10 trading days, subject to a floor price following any uplisting to a national exchange.
The company also agreed to pay Yorkville a $500,000 commitment fee in connection with the new SEPA, payable in two installments over the next year.
Separately, Micromobility.com and Yorkville mutually agreed to terminate a previous SEPA entered in April 2025, with Yorkville waiving any rights to related fees.
The company reported that, following the settlement of the Bernheim judgment, it currently has no outstanding judgments against it. All information is based on a press release statement and the company’s SEC filing.
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