---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-000801"
form_type: "8-K"
ticker: "ZPTA"
cik: "0001843714"
company_name: "Zapata Quantum, Inc."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T15:34:07.447712+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Andretti Acquisition Corp. issues $1.1M in promissory notes to insiders for working capital

## Summary
- Three notes issued to Michael M. Andretti ($500K), William J. Sandbrook ($500K), and William M. Brown ($100K).
- Notes bear 4.50% annual interest, due upon business combination or liquidation.
- Payees may convert principal into warrants at $1.00 per warrant, identical to IPO private placement warrants.
- Proceeds used for general working capital; notes unsecured and drawn prior to maturity.

## SEC filing metadata
- accession: 0000950142-23-000801
- form_type: 8-K
- ticker: ZPTA
- cik: 0001843714
- company_name: Zapata Quantum, Inc.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1843714/000095014223000801/0000950142-23-000801-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1843714/000095014223000801/eh230343613_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-000801
- JSON: https://secwatch.observer/filing/0000950142-23-000801.json
- Plain text: https://secwatch.observer/filing/0000950142-23-000801.txt

## Key facts
- Debt Financings
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843714/000095014223000801/0000950142-23-000801-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.