Why Is Zapp Electric Vehicles (ZAPP) Stock Up 31% Today?
Zapp(ZAPP) Investor Place·2024-07-12 23:41
Zapp Electric Vehicles (NASDAQ:ZAPP) stock is rallying higher on Friday after the electric vehicle (EV) company secured a commitment for up to $50 million.This is an update to a standby equity purchase agreement that was signed in February 2024 for $10 million. With this change, the company now has access to up to $50 million. That replaces the original $10 million agreement.Zapp Electric Vehicles notes that this money will come from it selling shares of ZAPP stock to an affiliate of Yorkville Advisors Glob ...