Yoshiharu Global Enters into Equity Line of Credit and Convertible Note Sale Agreements

Yoshiharu Global Co. (NASDAQ:YOSH) announced today that on January 6, 2025, it entered into significant financial agreements, as per its recent 8-K SEC filing.

The company has sealed an equity purchase agreement with Crom Structured Opportunities Fund I, LP, allowing Yoshiharu Global to sell up to $10,000,000 of its Class A common stock, referred to as “ELOC Shares”. This agreement spans from January 6, 2025, to January 6, 2027, giving the company the right to request the purchase of such shares during this timeframe, pegged at a price of 93% of the lowest volume weighted average price of the Class A Common Stock on the Nasdaq Capital Market during specific trading days.

Additionally, a convertible note sale agreement was reached on the same date, wherein the company issued a 10% OID promissory note worth $1,100,000 to the investor for a purchase price of $1,000,000. The note matures on January 6, 2026, with specified interest rates and conditions for conversion into shares of Class A Common Stock.

Furthermore, both agreements involve certain limitations and obligations on both parties, with the company ensuring reserved shares for potential conversions and compliance with SEC regulations regarding registration and sales of issued shares.

These agreements are detailed in the SEC filing, including the Equity Purchase Agreement, ELOC Registration Rights Agreement, Securities Purchase Agreement, Promissory Note, and Note Registration Rights Agreement.

Investors are advised to refer to the full copies of the agreements provided in the 8-K filing for comprehensive insights. The company emphasized that the filing does not constitute an offer to sell shares in any state where such actions would be prohibited by law until proper registration or qualification under state securities laws is achieved.

The transactions were conducted under the guidelines of Regulation D and Section 4(a)(2) of the Securities Act, targeting accredited investors as defined by Regulation D.

The company’s shares, under the ticker symbol YOSH, are listed on The Nasdaq Stock Market LLC’s Nasdaq Capital Market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Yoshiharu Global’s 8K filing here.

About Yoshiharu Global

Yoshiharu Global Co, together with its subsidiaries, engages in the operation of Japanese restaurants in California. It offers bone broth, ramen, sushi rolls, bento boxes, and other Japanese cuisines. The company was founded in 2016 and is based in Buena Park, California.