MediciNova terminates standby equity purchase agreement with Yorkville
The company notified Yorkville on August 31, 2026 that it was ending the equity line agreement, effective September 8, 2026.
MediciNova, Inc. disclosed in an 8-K that on August 31, 2026, it sent a termination notice to YA II PN, LTD., known as Yorkville, ending the Standby Equity Purchase Agreement the two parties had entered into on July 30, 2025. MediciNova delivered to Yorkville a Notice of Termination, informing Yorkville of the Company's election to terminate the Standby Equity Purchase Agreement, as required under Section 9.01(b) of the SEPA.1 The termination will take effect on September 8, 2026, according to the filing.
Under the original arrangement disclosed in an August 1, 2025 8-K, MediciNova was permitted, but not required, to sell up to $30.0 million worth of common stock to Yorkville under the terms of the agreement.1
Activity under the facility was limited. MediciNova sold a total of 175,000 shares at per-share prices between $1.39 and $1.40, bringing in about $0.2 million in proceeds through the SEPA.1
At the point of termination, there were no outstanding borrowings, advance notices, or shares still to be issued under the agreement.1 The filing also noted that neither MediciNova nor Yorkville owed any fees as a result of ending the agreement.1
The 8-K was signed by Yuichi Iwaki, MediciNova's President and Chief Executive Officer, and dated September 2, 2026.
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