Generation Asia I Acquisition Ltd: debt financing — Generation Asia I Acquisition issues $630K promissory note to sponsor for working capital and extensions

Generation Asia I Acquisition Ltd

Issued $630K non-convertible unsecured promissory note to Sponsor Generation Asia LLC.
Note is interest-free and repayable upon consummation of initial business combination.
Funds support working capital and monthly extension payments up to July 23, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Generation Asia I Acquisition Ltd incurred loan of $630,000 with Generation Asia LLC at no interest maturing upon the consummation of a business combination by the Company.

Instrument: loan
Principal: $630,000
Counterparty: Generation Asia LLC
Rate: no interest
Maturity: upon the consummation of a business combination by the Company
Event: incurrence

Exact text from the filing

On September 30, 2023, Generation Asia I Acquisition Limited, a Cayman Islands exempted company (the “ Company ”), issued a non-convertible unsecured promissory note to Generation Asia LLC, a Cayman Islands limited liability company (the “ Sponsor ”), for a collective principal amount of $630,000 (the “ Promissory Note ”).

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Source: SEC EDGAR

accession 0000950170-23-051568

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