Pegasus Digital Mobility Acquisition Corp.: debt financing — Pegasus Digital Mobility issues $1.1M promissory note to sponsor; restates $2.25M note

Pegasus Digital Mobility Acquisition Corp.

Issued $1,100,000 non-convertible unsecured promissory note to Pegasus Digital Mobility Sponsor LLC on March 15, 2023.
Amended and restated prior $2,250,000 note dated Jan 23, 2023 to align terms with new note.
Both notes are zero-interest, payable on earliest of Dec 31, 2023, business combination, or 3 business days after break-fee receipt.
If no business combination, notes are forgiven unless funds are available outside the trust account.
Proceeds used for working capital to satisfy outstanding obligations.

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

Pegasus Digital Mobility Acquisition Corp. amended loan of $2,250,000 with Pegasus Digital Mobility Sponsor LLC at no interest (per amended terms aligned with March 2023 note) maturing upon the earliest of December 31, 2023, the date on which the Company consummates a business consummation, or within three (3) business days of the receipt by t.

Instrument: loan
Principal: $2,250,000
Counterparty: Pegasus Digital Mobility Sponsor LLC
Rate: no interest (per amended terms aligned with March 2023 note)
Maturity: upon the earliest of December 31, 2023, the date on which the Company consummates a business consummation, or within three (3) business days of the receipt by t
Event: amendment

Exact text from the filing

The Company also agreed to amend and restate certain provisions of the non-convertible unsecured promissory note in the principal amount of $2,250,000 it issued to the Sponsor on January 23, 2023 (as amended and restated, the " January 2023 Promissory Note " and together with the " March 2023 Promissory Note, " the " Promissory Notes ") in order to align the terms of the January 2023 Promissory Note with those of the March 2023 Promissory Note.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Pegasus Digital Mobility Acquisition Corp. incurred loan of $1,100,000 with Pegasus Digital Mobility Sponsor LLC at no interest maturing upon the earliest of December 31, 2023, the date on which the Company consummates a business consummation, or within three (3) business days of the receipt by t.

Instrument: loan
Principal: $1,100,000
Counterparty: Pegasus Digital Mobility Sponsor LLC
Rate: no interest
Maturity: upon the earliest of December 31, 2023, the date on which the Company consummates a business consummation, or within three (3) business days of the receipt by t
Event: incurrence

Exact text from the filing

On March 15, 2023, Pegasus Digital Mobility Acquisition Corp. (the " Company ") issued a non-convertible unsecured promissory note (the " March 2023 Promissory Note ") in the principal amount of $1,100,000 to Pegasus Digital Mobility Sponsor LLC, a Cayman Islands limited liability company (the " Sponsor ").

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Source: SEC EDGAR

accession 0001104659-23-032852

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