--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-046735" form_type: "8-K" ticker: null cik: "0001894057" company_name: "Papaya Growth Opportunity Corp. I" filed_at: "2023-04-18T23:59:59+00:00" generated_at: "2026-06-17T00:55:05.632334+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Papaya Growth Opportunity extends deadline to Oct 19, 2023; secures up to $2.8M sponsor loan ## Summary - Shareholders approved extension of business combination deadline up to six months, from April 19 to October 19, 2023. - Issued $2.8M promissory note to sponsor Papaya Growth Opportunity I Sponsor, LLC; $331,185 drawn as of filing. - Note is non-interest bearing, matures at business combination; convertible into 2 Class A shares per $10 loaned. - Extension requires sponsor to deposit monthly extension amount (lesser of $325k or $0.0325 per share outstanding) into trust account. ## SEC filing metadata - accession: 0001104659-23-046735 - form_type: 8-K - cik: 0001894057 - company_name: Papaya Growth Opportunity Corp. I - filed_at: 2023-04-18T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 1.01, 5.07, 2.03, 5.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/0001104659-23-046735-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/tm2313033d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-046735 - JSON: https://secwatch.observer/filing/0001104659-23-046735.json - Plain text: https://secwatch.observer/filing/0001104659-23-046735.txt ## Key facts - Debt Financings Papaya Growth Opportunity Corp. I incurred loan of up to an aggregate principal amount of $2.8 million with Papaya Growth Opportunity I Sponsor, LLC at non-interest bearing maturing the date on which the Company consummates a business combination. - Instrument: loan - Principal: up to an aggregate principal amount of $2.8 million - Counterparty: Papaya Growth Opportunity I Sponsor, LLC - Rate: non-interest bearing - Maturity: the date on which the Company consummates a business combination - Event: incurrence source text: On April 17, 2023, the Company issued a promissory note (the “Promissory Note”) to Papaya Growth Opportunity I Sponsor, LLC (the “Lender”), the Company’s sponsor. Pursuant to the Promissory Note, the Lender agreed to loan the Company up to an aggregate principal amount of $2.8 million. The Promissory Note is non-interest bearing and all outstanding amounts under the Promissory Note will be due on the date on which the Company consummates a business combination (the “Maturity Date”). evidence_url: https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/0001104659-23-046735-index.htm - Governance Changes Papaya Growth Opportunity Corp. I: Approved Charter Amendment to extend termination date from April 19, 2023 to October 19, 2023 (effective 2023-04-18). - Change: charter amendment - Effective: 2023-04-18 source text: a proposal to approve the Charter Amendment to extend the termination date up to six (6) times for an additional one (1) month each time, from April 19, 2023 to October 19, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/0001104659-23-046735-index.htm - Shareholder Votes Papaya Growth Opportunity Corp. I shareholders approved Amendment to certificate of incorporation to extend business combination deadline at the 2023-04-12 meeting. - Proposal: charter amendment - Outcome: passed - Meeting: 2023-04-12 source text: at the Special Meeting the Company’s stockholders approved (i) an amendment (the “IMTA Amendment”) to the Company’s Investment Management Trust Agreement (the “IMTA”), dated January 13, 2022, with Continental Stock Transfer & Trust Company (“CST”), as trustee, and (ii) an amendment to the Company’s second amended and restated certificate of incorporation, to extend the date by which the Company must consummate a business combination transaction up to six (6) times for an additional one (1) month each time, from April 19, 2023 to October 19, 2023 (the “Charter Amendment”). evidence_url: https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/0001104659-23-046735-index.htm - Shareholder Votes Papaya Growth Opportunity Corp. I shareholders approved Approval of amendment to Investment Management Trust Agreement at the 2023-04-12 meeting. - Outcome: passed - Meeting: 2023-04-12 source text: at the Special Meeting the Company’s stockholders approved (i) an amendment (the “IMTA Amendment”) to the Company’s Investment Management Trust Agreement (the “IMTA”), dated January 13, 2022, with Continental Stock Transfer & Trust Company (“CST”), as trustee, and (ii) an amendment to the Company’s second amended and restated certificate of incorporation, to extend the date by which the Company must consummate a business combination transaction up to six (6) times for an additional one (1) month each time, from April 19, 2023 to October 19, 2023 (the “Charter Amendment”). evidence_url: https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/0001104659-23-046735-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.