Streamex delivers prepayment notice for convertible debenture financing

Streamex (STEX) has delivered an optional prepayment notice to the holder of its Secured Convertible Debentures, YA II PN, a Cayman Islands exempt limited company. It has also issued notice to cancel the Standby Equity Purchase Agreement previously entered into with Yorkville. As previously disclosed, the Company has outstanding Secured Convertible Debentures dated November 4, and December 17, with the Holder in the aggregate principal amount of $50M The Company issued an Optional Prepayment Notice to Holder, indicating its intention to prepay the entire outstanding Principal balance of $50M, plus a Prepayment Premium of 10% as provided in the Debentures. Following receipt of the Notice, the Holder has ten trading days to elect to convert all or any portion of the Debentures, and the Company is required to make the prepayment on the eleventh trading day after the Notice date, after giving effect to any conversions during such period. As previously disclosed, the Company is party to a SEPA facility with Yorkville, pursuant to which the Company had the right, but not the obligation, to issue and sell to Yorkville up to $1,000,000,000 of its Common Stock, from time to time during the 36-month commitment period under the SEPA, subject to certain terms, limitations and conditions. As provided in the SEPA, the Company has control over the timing and amount of any sales of Common Stock to the Yorkville at its discretion, and as further provided under the SEPA. The Company has not and will not utilize the SEPA. The Company issued a notice of termination of the SEPA.