SEEDO CORP. (OTCMKTS: SEDO) Files An 8-K Entry into a Material Definitive Agreement

SEEDO CORP. (OTCMKTS: SEDO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

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On December 4th, 2018, the Company executed a Convertible Debenture, Securities Purchase Agreement and ancillary agreements (collectively, the “Agreements”) with YAII PN, Ltd. Per the terms of the Agreements with YAII PN, the Company was tendered $550,000.00, which is open with right of redemption for two years.

Prior to the maturity date of the Convertible Debenture, the Company at its option, has the right to redeem in cash in part or in whole, the amounts outstanding provided that as of the date of the redemption notice (i) the VWAP of the Company’s Common Stock is less than $1.20 and (ii) there is no Equity Conditions Failures as defined therein. The Company shall pay an amount equal to the principal amount being redeemed plus a redemption premium equal to 20% of the outstanding amount being redeemed plus outstanding and accrued Interest.

to the Agreements, we shall use the net proceeds for immediate cash infusion to expand our production facilities, as well as normative corporate working capital purposes. There are no other restrictions on future financing transactions. The Agreement does not contain any right of first refusal, participation rights or penalties. YAII PN Ltd. has agreed that neither it nor any of its affiliates shall engage in any short-selling or hedging of our Common Stock during any time.

The foregoing is a summary description of certain terms of the Agreements. For a full description of all terms, please refer to the copy of the Agreements which are filed herewith as Exhibits 10.1 to this Current Report on Form 8-K and incorporated herein by reference. All readers are encouraged to read the entire text of the listed Agreements.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits

The following Exhibits are filed as part of this Report.


SEEDO CORP. Exhibit
EX-10.1 2 exhibit_10-1.htm EXHIBIT 10.1 Exhibit 10.1   NEITHER THIS DEBENTURE NOR THE SECURITIES INTO WHICH THIS DEBENTURE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE.  THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,…
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