EMAT secures $100M convertible debt facility with Yorkville, issues $20M immediately

Filed May 11, 2026 · Period ending May 7, 2026 · ~1 min read

Key Changes

• high

  Company entered $100M convertible debt facility with Yorkville, issuing $20M immediately. Conversion price is lower of $12.09 or 95% of lowest 5-day trading average, creating significant dilution risk if stock price falls.

  Item 1.01 verify on EDGAR →
• high

  Mandatory cash repayment triggers if stock falls below floor price for 5 of 7 days, share issuance hits 99% cap, or registration unavailable for 10 days. Requires monthly payments of 1/5 principal plus 5% premium.

  Item 1.01 verify on EDGAR →
• medium

  Debt carries 5% interest normally but jumps to 18% upon default. Matures November 2027 (18 months), requiring conversion, repayment, or refinancing by then.

  Item 1.01 verify on EDGAR →