---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-040852"
form_type: "8-K"
ticker: null
cik: "0001822929"
company_name: "Eucrates Biomedical Acquisition Corp."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T07:13:33.405156+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Eucrates Biomedical draws additional $150k from sponsor promissory note

## Summary
- Company drew $150,000 on March 31, 2023 under unsecured promissory note from sponsor Eucrates LLC.
- Total drawn now $246,000 (previously $96,000 drawn on Feb 15, 2023); maximum borrowing $500,000.
- Note is non-interest bearing; convertible into units at $10.00 per unit at sponsor's option.
- Repayment from working capital outside trust if no business combination; if completed, from company funds.

## SEC filing metadata
- accession: 0001104659-23-040852
- form_type: 8-K
- cik: 0001822929
- company_name: Eucrates Biomedical Acquisition Corp.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822929/000110465923040852/0001104659-23-040852-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822929/000110465923040852/tm2311405d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-040852
- JSON: https://secwatch.observer/filing/0001104659-23-040852.json
- Plain text: https://secwatch.observer/filing/0001104659-23-040852.txt

## Key facts
- Debt Financings
  Eucrates Biomedical Acquisition Corp. incurred loan of $150,000 with Eucrates LLC at does not bear any interest.
  - Instrument: loan
  - Principal: $150,000
  - Counterparty: Eucrates LLC
  - Rate: does not bear any interest
  - Event: incurrence
  source text: On March 31, 2023, the Company drew an additional $150,000 on the Promissory Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822929/000110465923040852/0001104659-23-040852-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.