Icon Energy Secures $10M Equity Facility
Ticker: ICON · Form: 6-K · Filed: Aug 29, 2025 · CIK: 1995574
| Field | Detail |
|---|---|
| Company | Icon Energy CORP (ICON) |
| Form Type | 6-K |
| Filed Date | Aug 29, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $20,000,000, $25,000, $10 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-facility, financing, standby-agreement
TL;DR
Icon Energy just inked a $10M equity deal with Yorkville, giving them cash over 3 years.
AI Summary
Icon Energy Corp. entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd. (Yorkville) on August 27, 2025. This agreement allows Icon Energy to sell up to $10 million of its ordinary shares to Yorkville over a 36-month period, subject to certain conditions.
Why It Matters
This agreement provides Icon Energy with a flexible source of capital, potentially enabling future growth and operational expansion without immediate dilution.
Risk Assessment
Risk Level: medium — Standby equity agreements can lead to significant dilution if the company's stock price is low, and the terms of the agreement may not be fully favorable.
Key Numbers
- $10.0M — Standby Equity Facility (Maximum amount Icon Energy can draw over 36 months.)
- 36 months — SEPA Duration (The period over which Icon Energy can utilize the equity facility.)
Key Players & Entities
- Icon Energy Corp. (company) — Registrant
- YA II PN, Ltd. (company) — Counterparty to SEPA
- Yorkville (company) — Alias for YA II PN, Ltd.
- $10 million (dollar_amount) — Maximum amount under SEPA
- August 27, 2025 (date) — Effective Date of SEPA
FAQ
What is the maximum amount Icon Energy can raise under the SEPA?
Icon Energy can sell up to $10 million of its ordinary shares to Yorkville under the SEPA.
Who is the counterparty to the Standby Equity Purchase Agreement?
The counterparty is YA II PN, Ltd., also referred to as Yorkville.
When was the SEPA effective?
The SEPA was effective as of August 27, 2025.
What is the duration of the SEPA?
The SEPA is in effect for a period of 36 months.
What type of securities can Icon Energy sell under the SEPA?
Icon Energy can sell its ordinary shares to Yorkville.
Filing Stats: 1,042 words · 4 min read · ~3 pages · Grade level 14.6 · Accepted 2025-08-29 16:10:24
Key Financial Figures
- $0.001 — subscribe for, common shares, par value $0.001 per share ("Common Shares") for an aggr
- $20,000,000 — aggregate subscription amount of up to $20,000,000 (the "Commitment Amount"), at any time
- $25,000 — and due diligence fee in the amount of $25,000. In addition, in consideration for York
- $10 million — emaining half due at the earlier of (i) $10 million worth of Advances or (ii) the 6-month a
Filing Documents
- ny20054456x2_6k.htm (6-K) — 13KB
- ny20054456x2_ex10-1.htm (EX-10.1) — 256KB
- 0001140361-25-033421.txt ( ) — 270KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ICON ENERGY CORP. Date: August 29, 2025 By: /s/ Dennis Psachos Name: Dennis Psachos Title: Chief Financial Officer