--- title: "PRF Technologies signs $15.0 million equity line with Yorkville" url: "https://aibio.space/news/prf-technologies-signs-15-0-million-equity-line-yorkville/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-06-18" section: "Financings" tickers: "NASDAQ:PRFX" source: "https://www.sec.gov/Archives/edgar/data/1801834/000117891326003263/zk2635551.htm" summary: "The Standby Equity Purchase Agreement lets PRF sell up to $15.0 million of shares over 36 months at 97% of recent prices. Its 2026 going-concern paragraph" --- By the aibio.space news desk. Sources - [PRF Technologies Ltd. 6-K (2026-06-18)](https://www.sec.gov/Archives/edgar/data/1801834/000117891326003263/zk2635551.htm) [PRFX](https://aibio.space/companies/prf-technologies/) 2026-06-18 # PRF Technologies signs $15.0 million equity line with Yorkville Tickers [PRFX](https://aibio.space/companies/prf-technologies/) The Standby Equity Purchase Agreement lets PRF sell up to $15.0 million of shares over 36 months at 97% of recent prices. Its 2026 going-concern paragraph and $3.1 million year-end cash sit beside the new line. ## Key facts - **Company**: PRF Technologies Ltd. (NASDAQ: PRFX) - **News type**: Financings - **Primary source**: [PRF Technologies Ltd. 6-K (2026-06-18)](https://www.sec.gov/Archives/edgar/data/1801834/000117891326003263/zk2635551.htm) *Office towers against a dusk sky. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The new equity line PRF Technologies Ltd. entered into a Standby Equity Purchase Agreement on June 18, 2026 with YA II PN, LTD., a Cayman Islands exempt limited partnership known as Yorkville. The company has the right, but not the obligation, to sell Yorkville up to $15.0 million of ordinary shares over the 36 months after signing. Each sale is called an Advance. The shares are offered as a private placement under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, and the 6-K says Yorkville has represented that it is an accredited investor. When the company gives notice, Yorkville is committed to buy at 97% of the lowest of three daily volume weighted average prices on Nasdaq, measured over the three consecutive trading days after that notice. The company may set a minimum acceptable price for each Advance. A 9.99% limit stops Yorkville from buying shares that would take its holding above 9.99% of the outstanding shares or voting power. Yorkville's obligation depends on conditions, including an SEC registration statement covering both the commitment shares and the Advance shares, which must be declared effective. The line cannot be drawn until that happens. The commitment fee is 1.0% of the commitment amount, payable in four equal installments. The first was paid on signing in 20,276 ordinary shares. The other three are due in cash every three months. The 6-K names Yorkville as the only counterparty. It names no placement agent, underwriter or law firm for the agreement. ## The May line it follows PRF signed an earlier standby equity purchase agreement with Yorkville on May 7, 2026, committing up to $10.0 million. That agreement ended on May 29, 2026. By then the company had issued and sold 2,152,798 ordinary shares for aggregate gross proceeds of $10.0 million under it. ## What the annual report says about cash The annual report on Form 20-F, filed March 26, 2026, reports a net loss of $5.0 million for 2025, against $14.6 million for 2024. Cash used in operations was $4.0 million in 2025 and $12.6 million in 2024. Year-end cash and cash equivalents were $3.1 million at December 31, 2025, down from $4.3 million a year earlier. Revenue for 2025 was $17,000, against none in 2024. Research and development expense fell from $11.7 million to $1.1 million over the same period. The annual report's risk summary says the auditor's report contains an explanatory paragraph on substantial doubt about the company's ability to continue as a going concern. It says PRF will need substantial additional funding that may not be available on acceptable terms, and that it may have to delay, reduce or eliminate research and development programs if it cannot raise capital. It warns that raising capital may dilute shareholders, restrict operations or require the company to give up rights to its product candidates. The risk summary names OcuRing-K among the product candidates the business depends on, and says the company has not yet commercialized any product. It also lists a separate risk for the DeepSolar business, which it describes as a new and unproven market with a sales cycle that is often long and unpredictable. ## The dilution question Each Advance sells shares at 97% of a price set by three days of trading, not at a fixed price. The company may set a minimum price for each Advance, but the 6-K does not say whether it has done so. The annual report's risk summary warns that raising capital may dilute shareholders. ## What comes next The next step is the registration statement covering the commitment shares and the Advance shares. Once it is effective, the company can deliver notice of an Advance. The 6-K gives no timetable for that filing. Against year-end cash of $3.1 million and 2025 operating cash use of $4.0 million, the $15.0 million line is large relative to the company's own cash figures. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story PRFX PRF Technologies Ltd. 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Cite as: aibio.space, "PRF Technologies signs $15.0 million equity line with Yorkville", 2026-06-18, https://aibio.space/news/prf-technologies-signs-15-0-million-equity-line-yorkville/