InvestmentMay 11, 2026, 08:02 AM
Evolution Metals Secures $100M Investment from Yorkville
AI Summary
Evolution Metals & Technologies Corp. secured an investment of up to $100 million from Yorkville Advisors Global, LP, structured as a flexible, multi-tranche convertible facility. The company intends to use the proceeds for general corporate purposes, including expanding its commercial operations and increasing the annual production of high-performance rare earth magnets. The first tranche of $20 million was issued on May 7, 2026, with subsequent tranches totaling up to $80 million.
Key Highlights
- Secured up to $100,000,000 investment from Yorkville Advisors Global, LP.
- Investment structured as flexible, multi-tranche convertible debentures.
- First debenture of $20,000,000 issued on May 7, 2026.
- Second debenture of $5,775,000 expected upon S-1 registration effectiveness.
- Remaining $74,225,000 to be purchased in subsequent tranches by mutual agreement.
- Debentures convertible at lower of $12.09 or 95% of 5-day lowest VWAP.
- Interest rate of 5.0% annually, increasing to 18.0% upon default.
- Proceeds to fund expansion of rare earth magnet production and U.S. industrial campus development.