Yoshiharu Global Co. announced on January 13, 2025, that it has secured financing commitments totaling up to $11.0 million. This includes a senior unsecured convertible promissory note and an equity line of credit with Crom Structured Opportunities Fund I, LP.
The company sold a convertible promissory note with an original principal amount of $1.1 million for a purchase price of $1.0 million. The note matures on January 6, 2026, and is convertible into Class A Common Stock at a price equal to the lesser of $5.00 or 90% of the lowest dollar volume weighted average price during the five trading days preceding conversion.
Additionally, Yoshiharu established an equity line of credit, granting it the right, but not the obligation, to sell up to $10.0 million in shares of its common stock to the investor. The purchase price for shares under the ELOC is 93% of the lowest volume weighted average price during the five trading days following the clearing date of the respective advance shares.
The net proceeds from these financing agreements are intended for working capital and general corporate purposes, supporting the company's future growth initiatives. Yoshiharu also agreed to file a registration statement covering the resale of common stock that the investor may acquire.
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