SaverOne Secures Up to $10M Equity Line with Yorkville
Ticker: SVREW · Form: 6-K · Filed: Jul 17, 2024 · CIK: 1894693
| Field | Detail |
|---|---|
| Company | Saverone 2014 Ltd. (SVREW) |
| Form Type | 6-K |
| Filed Date | Jul 17, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $15 million, $3,000,000, $1,000,000, $0.5284, $0.0868 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-financing, standby-agreement, capital-raise
TL;DR
SaverOne just inked a $10M equity line with Yorkville, giving them cash flexibility over 3 years.
AI Summary
On July 16, 2024, SaverOne 2014 Ltd. entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd., a fund managed by Yorkville Advisors Global, LP. This agreement allows SaverOne to sell up to $10 million of its ordinary shares to Yorkville over a period of 36 months, subject to certain conditions.
Why It Matters
This agreement provides SaverOne with flexible access to capital, potentially supporting its growth and operational needs without immediate dilution.
Risk Assessment
Risk Level: medium — Standby equity agreements can introduce dilution and market price volatility for the company's shares.
Key Numbers
- $10.0M — Standby Equity Purchase Agreement (Maximum capital available over 36 months)
Key Players & Entities
- SaverOne 2014 Ltd. (company) — Registrant
- YA II PN, Ltd. (company) — Counterparty to SEPA
- Yorkville Advisors Global, LP (company) — Manager of YA II PN, Ltd.
- $10 million (dollar_amount) — Maximum amount under SEPA
- July 16, 2024 (date) — Effective Date of SEPA
FAQ
What is the maximum amount SaverOne can raise under the SEPA?
SaverOne 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., a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP.
When did the SEPA become effective?
The SEPA became effective on July 16, 2024.
What is the duration of the SEPA?
The SEPA allows SaverOne to sell shares over a period of 36 months.
What type of company is SaverOne 2014 Ltd.?
SaverOne 2014 Ltd. is a company established in the State of Israel, filing as a Foreign Private Issuer.
Filing Stats: 1,566 words · 6 min read · ~5 pages · Grade level 16.2 · Accepted 2024-07-17 06:24:49
Key Financial Figures
- $15 million — aggregate subscription amount of up to $15 million (the “ Commitment Amount ”)
- $3,000,000 — to the Company the principal amount of $3,000,000 (the “ Pre-Paid Advance ”),
- $1,000,000 — e-Paid Advance in a principal amount of $1,000,000 was advanced on the Effective Date, the
- $0.5284 — the Promissory Notes, the lower of (i) $0.5284 per ADS, or (ii) 95% of the lowest dail
- $0.0868 — te of determination, but not lower than $0.0868 per ADS Share. The Conversion Price wil
- $500,000 — monthly payments in an amount equal to $500,000 of principal, or the outstanding princi
Filing Documents
- ea0209534-6k_saverone.htm (6-K) — 23KB
- ea020953401ex99-1_saverone.htm (EX-99.1) — 250KB
- ea020953401ex99-2_saverone.htm (EX-99.2) — 100KB
- ea020953401ex99-3_saverone.htm (EX-99.3) — 77KB
- image_001.jpg (GRAPHIC) — 21KB
- 0001213900-24-061912.txt ( ) — 481KB
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. Date: July 17, 2024 SAVERONE 2014 LTD. By: /s/ Ori Gilboa Name: Ori Gilboa Title: Chief Executive Officer 4