Rail Vision Ltd. announced on October 9, 2024, that it has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd., a fund managed by Yorkville Advisors Global, LP. This agreement grants Rail Vision the right, but not the obligation, to sell up to $20 million of its ordinary shares to Yorkville over a three-year period.
The purchase price for shares sold to Yorkville will be at a 3% discount to the lowest daily volume weighted average price during a three-consecutive-trading-day period following an advance notice from the company. There are no minimum commitments or penalties for not utilizing the full amount, and the SEPA does not impose any restrictions on Rail Vision's operating activities.
CEO Shahar Hania stated that this strategic financial partnership provides flexibility to support ongoing operations and accelerate growth initiatives. This capital access is intended to enhance Rail Vision's ability to scale, innovate, and capture additional market share in the global railway safety industry.
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