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Benzinga
Benzinga
Business
Shivani Kumaresan

Missfresh Arranges For $300M Funding Via Standby Equity Purchase Agreement

Missfresh MF Cayman Islands
  • Missfresh Ltd (NASDAQ:MF) has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN LTD, a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global LP.
  • Missfresh will sell up to $300 million of Class B ordinary shares at any time, based on its funding requirement, during the 36 months following the March 4, 2022, date of the SEPA.
  • "The additional fundings will give us robust operational and strategic flexibility as we drive forward to further implement our strategy and achieve our commercial milestones," said CEO Zheng Xu.
  • Price Action: MF shares are trading at $2.03 on Monday's last check.
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