Yoshiharu Announces Financing Commitments of up to $11.0 Million

Financing and Securities Purchase Agreement - The company entered into a securities purchase agreement with Crom Structured Opportunities Fund I, LP, issuing a senior unsecured convertible promissory note with an original principal amount of $1.1 million [2] - The company also established an equity line of credit (ELOC) with the same investor, allowing the company to issue and sell up to $10.0 million in shares of its common stock [2] - The conversion price for the note is set at the lesser of $5.00 or 90% of the lowest dollar volume weighted average price during the five trading days preceding the conversion date [3] - The company agreed to pay the investor a commitment fee of 31,948 shares of Class A Common Stock for entering into the purchase agreement [4] - The note was issued at a 10% original issue discount (OID), with a purchase price of $1,000,000 for the $1,100,000 principal amount, and carries a one-time interest charge of 5% [5] - The ELOC allows the company to issue and sell shares at 93% of the lowest VWAP during the five trading days following the clearing date of the respective advance shares [6] Use of Proceeds and Corporate Strategy - The company intends to use the net proceeds from the note and ELOC for working capital and general corporate purposes to support future growth [1] - The financing provides additional operating liquidity and financial flexibility to support the company's U.S. and international expansion plans [2] Company Overview - Yoshiharu Global Co. is a fast-growing restaurant operator specializing in authentic Japanese ramen and rolls [10] - The company has gained recognition as a leading ramen restaurant in Southern California and currently owns and operates 14 restaurants across Southern California and Las Vegas [10] Regulatory and Disclosure Information - The company agreed to file a registration statement with the SEC covering the resale of all Class A Common Stock that the investor may acquire [1] - Further details on the securities purchase agreement will be disclosed in a Current Report on Form 8-K to be filed with the SEC on January 13, 2025 [7]