Micromobility.com Inc. announced that it has entered into a Equity Purchase Agreement that it has issued a convertible promissory note with an aggregate principal amount of $1.5 million on October 26, 2023. The transaction included participation from returning investor, YA II PN, Ltd., a fund managed by, Yorkville Advisors Global LP. The holder may convert the Promissory Note into shares of our Class A Common Stock t a conversion price of $0.25 any time prior to the Maturity Date, subject to the terms and conditions of the Promissory Note, provided that there may be no such conversion if such conversion would cause the holder to beneficially own more than 4.99% of our common stock.

The Promissory Note is to be repaid in one installment of $1,500,000 on February 29, 2024. Interest shall not accrue on the outstanding principal balance of the Promissory Note unless and until there is an event of default, upon the occurrence of which, interest shall accrue at a rate of 15% per year until collected in full. The Promissory Note has a 15% original issue discount for gross proceeds of $1.275 million.

Any repayments of the Promissory Note in cash carry a 5% redemption premium.