Eric Beder

- Icon Energy Corp. entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd. (Yorkville) on **August 27, 2025**, allowing the company to issue and sell up to **$20 million** of its common shares to Yorkville.  **[1995574_0001140361-25-033421_ny20054456x2_ex10-1.htm:0]** **[1995574_0001140361-25-033421_ny20054456x2_6k.htm:1]** 
- The commitment period for this agreement extends from **August 27, 2025**, until **August 27, 2028**, unless terminated earlier.  **[1995574_0001140361-25-033421_ny20054456x2_6k.htm:1]** 
- Icon Energy Corp. has the option to sell common shares to Yorkville at either **96% of the Market Price** (average volume weighted average price) or **97% of the Market Price** (lowest daily volume weighted average price).  **[1995574_0001140361-25-033421_ny20054456x2_6k.htm:1]** 
- A commitment fee equal to **1% of the $20 million Commitment Amount** is payable, with the first half satisfied by the issuance of **45,249 Common Shares** to Yorkville upon execution of the SEPA.  **[1995574_0001140361-25-033421_ny20054456x2_6k.htm:2]** 
- Yorkville's obligation to purchase shares is subject to an ownership limitation, preventing it from beneficially owning more than **4.99%** of Icon Energy Corp.'s then outstanding common shares.  **[1995574_0001140361-25-033421_ny20054456x2_6k.htm:1]** **[1995574_0001140361-25-033421_ny20054456x2_ex10-1.htm:2]**

Icon Energy (ICON)