Ideanomics, Inc. entered into to the certain secured debenture purchase agreement for the private placement of a new secured convertible debenture at an issue price of $1,500,000 for gross proceeds of $1,900,000 on February 29, 2024. The transaction included participation from returning investor, YA II PN, Ltd., a fund managed by, Yorkville Advisors Global LP. The company will pay interest on the outstanding principal amount of the debenture at a rate of 8% per annum, provided that such interest rate shall be increased to 18% upon an event of default and matures on September 30, 2024.

The new Secured Convertible Debenture is entitled to convert any portion of the outstanding principle and accrued interest into shares of the Company?s common stock at a conversion price per share equal to the lower of $1.12 per share or 90% of the lowest daily VWAP during the 10 consecutive Trading Days immediately preceding the Conversion Date or other date of determination which solely in the case of the Variable Price shall not be lower than the Floor Price of $0.204.