Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Zapata Quantum, Inc. incurred loan of total principal amounts of $500,000, $500,000 and $100,000, respectively with Michael M. Andretti, William J. Sandbrook, William M. Brown at 4.50% per annum maturing the earlier of (i) the date on which the Company consummates an initial business combination and (ii) the liquidation of the Company.
- Instrument
- loan
- Principal
- total principal amounts of $500,000, $500,000 and $100,000, respectively
- Counterparty
- Michael M. Andretti, William J. Sandbrook, William M. Brown
- Rate
- 4.50% per annum
- Maturity
- the earlier of (i) the date on which the Company consummates an initial business combination and (ii) the liquidation of the Company
- Event
- incurrence
Exact text from the filing
On March 21, 2023, Andretti Acquisition Corp. (the “ Company ”) issued three separate unsecured promissory notes (the “ Notes ”) to each of Michael M. Andretti, William J. Sandbrook and William M. Brown (collectively, the “ Payees ”), in total principal amounts of $500,000, $500,000 and $100,000, respectively. The proceeds of the Notes, which may be drawn from time to time prior to the Maturity Date (as defined below), will be used by the Company for general working capital purposes. The Notes bear interest at a rate of 4.50% per annum and shall be due and payable on the earlier of (i) the date on which the Company consummates an initial business combination (a “ Business Combination ”) and (ii) the liquidation of the Company in accordance with its amended and restated memorandum (the “ Maturity Date ”).
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