secwatch.observer — SEC 8-K summary
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Issuer:     Papaya Growth Opportunity Corp. I (—)
CIK:        0001894057
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001104659-23-046735
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 5.07, 2.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Papaya Growth Opportunity extends deadline to Oct 19, 2023; secures up to $2.8M sponsor loan
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/0001104659-23-046735-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1894057/000110465923046735/tm2313033d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-046735

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