InvestmentMay 13, 2026, 04:22 PM
PRF Technologies Secures Up to $10M Equity Investment from YA
AI Summary
PRF Technologies Ltd. has entered into a Standby Equity Purchase Agreement with YA, potentially securing up to $10.0 million in gross proceeds from the sale of ordinary shares over a 36-month period. The company may direct YA to purchase up to 2,975,616 Advance Shares, with proceeds allocated to R&D, working capital, and general corporate purposes. This financing follows the company's rebranding from PainReform Ltd. to PRF Technologies Ltd. in January 2026, reflecting its diversification into specialty pharmaceuticals and AI-driven renewable-energy analytics, and a 1-for-5 reverse share split in February 2026.
Key Highlights
- PRF Technologies entered a Standby Equity Purchase Agreement with YA for up to $10.0 million in gross proceeds.
- Company may sell up to 2,975,616 Advance Shares to YA over a 36-month period.
- Issued 12,192 Commitment Shares and 12,192 Structuring Shares to YA upon agreement execution.
- Advance Shares purchase price is 97% of the lowest of three daily VWAPs during a pricing period.
- Proceeds from sales to YA will be used for R&D, working capital, and general corporate purposes.
- Company rebranded from PainReform Ltd. to PRF Technologies Ltd. effective January 15, 2026.
- Effected a 1-for-5 reverse share split on February 3, 2026.
- Ordinary shares trade on Nasdaq under 'PRFX'; last reported sale price was $1.67 on May 12, 2026.
Price Impact
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