Jaws Mustang Acquisition Corp (JWSMF): debt financing — JAWS Mustang issues up to $500K promissory note to sponsor for working capital

Jaws Mustang Acquisition Corp

Note of up to $500,000 issued to Mustang Sponsor LLC, bearing no interest.
Principal due upon consummation of a business combination; repaid from trust only if no deal closes.
Sponsor may convert unpaid balance into warrants at $2.00 per warrant, identical to private placement warrants.
Issuance exempt from registration under Section 4(a)(2) of the Securities Act.

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

Jaws Mustang Acquisition Corp incurred loan of up to $500,000 with Mustang Sponsor LLC at bears no interest maturing upon the consummation of the Company’s initial merger, share exchange, asset acquisition, share purchase, reorganisation or similar business combination.

Instrument: loan
Principal: up to $500,000
Counterparty: Mustang Sponsor LLC
Rate: bears no interest
Maturity: upon the consummation of the Company’s initial merger, share exchange, asset acquisition, share purchase, reorganisation or similar business combination
Event: incurrence

Exact text from the filing

On January 19, 2023, JAWS Mustang Acquisition Corporation (the “Company”) issued a promissory note (the “Note”) in the principal amount of up to $500,000 to Mustang Sponsor LLC (the “Payee”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Jaws Mustang Acquisition Corp entered into Note with Mustang Sponsor LLC valued at up to $500,000 (effective 2023-01-19).

Action: entry
Agreement: credit facility
Counterparty: Mustang Sponsor LLC
Value: up to $500,000
Effective: 2023-01-19

Exact text from the filing

On January 19, 2023, JAWS Mustang Acquisition Corporation (the “Company”) issued a promissory note (the “Note”) in the principal amount of up to $500,000 to Mustang Sponsor LLC (the “Payee”).

View on SEC.gov

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Jaws Mustang Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-005009

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