MediciNova, Inc. Enters into Standby Equity Purchase Agreement

SEC Filing 8-K (0001193125-25-170744)

On July 30, 2025, MediciNova, Inc. entered into a Standby Equity Purchase Agreement with YA II PN, LTD. Under this agreement, MediciNova has the right to sell up to $30 million of its common stock to Yorkville over a 36-month period. The shares will be purchased at 97% of the lowest of the three daily volume-weighted average prices (VWAP) during a three-day pricing period. MediciNova will pay a $25,000 structuring fee and a $375,000 commitment fee to Yorkville. The agreement includes restrictions to ensure compliance with Nasdaq rules, including a cap on the number of shares that can be issued without stockholder approval. The transaction is subject to the filing and effectiveness of a registration statement with the SEC.