Breaking News: D-Boral Capital Secures $65 Million for Baijiayun Group with Exclusive Placement Agent Role!

New York, Dec. 10, 2024 (GLOBE NEWSWIRE)

Baijiayun Group Ltd (“Baijiayun” or the “Company”) (NASDAQ: RTC), a one-stop AI video solution provider, on December 6, 2024, announced that it has entered into a Standby Equity Purchase Agreement (the “SEPA”), with YA II PN, Ltd. (“YA”), a fund managed by Yorkville Advisors Global, LP. Subject to the terms and conditions set forth in the the SEPA, YA is committed to purchase up to $50 million (the “Commitment Amount”) of the Company’s Class A Ordinary Shares (the “Shares”) at any time during the two-year period following the execution date of the SEPA, by delivering written notice to YA (an “Advance Notice”).

Pursuant to the SEPA, YA will advance to the Company, subject to the satisfaction of certain conditions as set forth therein, the principal amount of up to $15 million (the “Pre-Paid Advance”), which will be evidenced by convertible promissory notes (the “Promissory Notes”, together with the “SEPA”, the “Offering”) in four tranches. The first Pre-Advance, in the principal amount of $3,000,000, was advanced December 6, 2024 in connection with the execution of the SEPA, and is subject to a 10% discount to the principal amount of such Promissory Note.

Effect on Me:

As an individual, this news may not have a direct impact on your daily life. However, it is always beneficial to stay informed about financial transactions in the market, as they could indirectly influence the economy, job opportunities, and investment options.

Effect on the World:

The $65 million secured by D-Boral Capital for Baijiayun Group showcases the confidence investors have in AI technology companies. This funding will not only help Baijiayun Group expand its offerings and reach but will also contribute to the advancement of AI solutions globally, impacting industries and societies worldwide.

Conclusion:

Overall, the exclusive placement agent role secured by D-Boral Capital and the significant investment in Baijiayun Group mark a significant milestone in the AI industry. This news highlights the importance of innovation and investment in technology companies, driving progress and growth in the global economy.