secwatch.observer — SEC 8-K summary
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Issuer:     Eucrates Biomedical Acquisition Corp. (—)
CIK:        0001822929
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001104659-23-040852
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Eucrates Biomedical draws additional $150k from sponsor promissory note
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822929/000110465923040852/0001104659-23-040852-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822929/000110465923040852/tm2311405d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-040852

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