Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Drilling Tools International Corp entered into Promissory Note with ROC Energy Holdings LLC (the Sponsor) valued at $2,070,000 (effective 2022-12-06).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- ROC Energy Holdings LLC (the Sponsor)
- Value
- $2,070,000
- Effective
- 2022-12-06
Exact text from the filing
On December 6, 2022, ROC Energy Acquisition Corp. (the “ Company ”) issued a promissory note (the “ Note ”) in the principal amount of $2,070,000 (the “ Extension Payment ”) to an affiliate of the Company’s sponsor, ROC Energy Holdings LLC (the “ Sponsor ”) in connection with the Extension (as defined below). The Note bears no interest and is due and payable upon the earlier to occur of (i) the date on which the Company’s initial business combination is consummated and (ii) the liquidation of the Company on or before March 6, 2023 (unless extended to June 6, 2023) or such later liquidation date as may be approved by the Company’s stockholders. At the election of FP SPAC, the unpaid principal amount of the Note may be converted into units of the Company (the “ Conversion Units ”) with the total Conversion Units so issued shall be equal to: (x) the portion of the principal amount of the Note being converted divided by (y) the conversion price of ten dollars ($10.00), rounded up to the ne
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