ARMLOGI HOLDING CORP. CLOSES ON $5 MILLION SECOND TRANCHE OF PRE-PAID ADVANCE UNDER A STANDBY EQUITY PURCHASE AGREEMENT
20 Dezember 2024 - 10:00PM
Armlogi Holding Corp. (“Armlogi” or the “Company”) (Nasdaq: BTOC),
a U.S.-based warehousing and logistics service provider that offers
a comprehensive package of supply-chain solutions related to
warehouse management and order fulfillment, today announced that it
has closed on the $5 million second tranche of the Pre-Paid Advance
(as defined below) pursuant to a Standby Equity Purchase Agreement
(the “SEPA”) the Company entered into with YA II PN, Ltd. (“YA”), a
fund managed by Yorkville Advisors Global, LP.
As previously announced on November 25, 2024,
Armlogi entered into the SEPA, where, pursuant to the terms of the
SEPA, Armlogi will have the right, from time to time, until
December 1, 2026, to require the Investor to purchase up to $50
million of shares of common stock of the Company, subject to
certain limitations and conditions set forth in the SEPA, by
delivering written notice to YA (an “Advance Notice”). Pursuant to
the SEPA, YA will advance to the Company, subject to the
satisfaction of certain conditions as set forth therein, the
principal amount of $21 million (the “Pre-Paid Advance”), which
will be evidenced by convertible promissory notes (the “Promissory
Notes”, together with the “SEPA”, the “Offering”) in three
tranches. The Company has now received two tranches of the Pre-Paid
Advance of $5 million each.
“This second tranche closing represents another
important milestone in strengthening Armlogi’s financial position
and advancing our growth initiatives,” said Aidy Chou, Chairman and
Chief Executive Officer of Armlogi. “The continued support from
Yorkville Advisors through our SEPA arrangement provides us with
flexible capital to execute our strategic plans and enhance our
comprehensive supply-chain solutions platform. We remain focused on
delivering value to our customers and shareholders as we continue
to expand our warehousing and logistics capabilities.”
About Armlogi Holding Corp.
Armlogi Holding Corp., based in Walnut, CA, is a
fast-growing U.S.-based warehousing and logistics service provider
that offers a comprehensive package of supply-chain solutions
relating to warehouse management and order fulfillment. The Company
caters to cross-border e-commerce merchants looking to establish
overseas warehouses in the U.S. market. With ten warehouses
covering over three million square feet, the Company offers
comprehensive one-stop warehousing and logistics services. The
Company’s warehouses are equipped with facilities and technology
for handling and storing large and bulky items. For more
information, please visit www.armlogi.com.
Safe Harbor StatementThis press release
contains forward-looking statements. In addition, from time to
time, we or our representatives may make forward-looking statements
orally or in writing. We base these forward-looking statements on
our expectations and projections about future events, which we
derive from the information currently available to us. Such
forward-looking statements relate to future events or our future
performance, including: our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by those
that are not historical in nature, particularly those that use
terminology such as “may,” “should,” “expects,” “anticipates,”
“contemplates,” “estimates,” “believes,” “plans,” “projected,”
“predicts,” “potential,” or “hopes” or the negative of these or
similar terms. In evaluating these forward-looking statements, you
should consider various factors, including: our ability to change
the direction of the Company; our ability to keep pace with new
technology and changing market needs; and the competitive
environment of our business. These and other factors may cause our
actual results to differ materially from any forward-looking
statement. Forward-looking statements are only predictions. We are
not obligated to publicly update or revise any forward-looking
statement, whether as a result of uncertainties and assumptions.
The forward-looking events discussed in this press release and
other statements made from time to time by us or our
representatives, may not occur, and actual events and results may
differ materially and are subject to risks, uncertainties, and
assumptions about us.
Company Contact:info@armlogi.com
Investor Relations Contact:Matthew
Abenante, IRCPresidentStrategic Investor Relations, LLC Tel:
347-947-2093
Email: matthew@strategic-ir.com
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