debt
confidence high
sentiment neutral
materiality 0.40
Crown PropTech Acquisitions issues $1.5M promissory note to CEO Richard Chera
Crown PropTech Acquisitions
- Note up to $1,500,000 from CEO Richard Chera; no interest, due Nov 30, 2022 or upon business combination.
- Proceeds for general working capital; note convertible into warrants at $1.50/principal per warrant.
- Conversion warrants identical to private placement warrants: each exercisable for one Class A share at $11.50.
- Registration rights granted for underlying securities per existing Registration Rights Agreement.
- Loan is unsecured; default triggers acceleration; trust account waiver included.