Missfresh Limited announced that it has entered into a Standby Equity Purchase Agreement with YA II PN, Ltd., a fund managed by Yorkville Advisors Global LP for gross proceeds of up to $200 million on April 28, 2022. The company shall have the right, but not the obligation, to sell to the investor up to $200,000,000 of common shares, at its request any time during the commitment period and terminating on the earliest of (i) the first day of the month following the 24-month anniversary of the SEPA and (ii) the date on which the investor shall have made payment of any advances requested pursuant to the SEPA for its common shares equal to the commitment amount of $200,000,000. Each sale the company requests under the SEPA may be for a number of shares with an aggregate value of up to $20,000,000. The shares would be purchased at 97.0% of the market price and would be subject to certain limitations, including that the investor could not purchase any shares that would result in it owning more than 9.99% of the company’s outstanding common stock at the time of an advance or 19.99% of the company's outstanding common stock as of the date of the SEPA. The company agreed to issue an aggregate of 465,117 shares to the investor Yorkville as consideration for its irrevocable commitment to purchase the common shares upon the terms and subject to the satisfaction of the conditions set forth in the Purchase Agreement.