ACCRETION ACQUISITION CORP.: debt financing — SPAC Accretion Acquisition extends deadline to July 25; $159M redeemed by stockholders

On April 21, 2023, Accretion Acquisition Corp. (the " Company ") issued an unsecured promissory note (the " Note ") to Accretion Acquisition Sponsor, LLC (the " Sponsor ") in the principal amount of $240,000 in connection with the Charter Amendment (as defined below). The Note bears no interest and is due and payable upon the earlier of (a) the liquidation of the Company and (b) the closing date on which the Company consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities (an " Initial Business Combination "). If an Initial Business Combination is not consummated, the Note will not be repaid and all amounts owed thereunder will be forgiven except to the extent that the Company has funds available to it outside of its trust account (the " Trust Account ") established in connection with its initial public offering. The issuance of the Note was exempt pursuant to Section 4(a)(2)

As approved by the Company’s stockholders at the special meeting (the “ Special Meeting ”) of stockholders on April 14, 2023, the Company filed an amendment to the Company’s amended and restated certificate of incorporation (the “ Charter Amendment ”) to extend the date (the “ Termination Date ”) by which the Company has to consummate an Initial Business Combination from April 25, 2023 (the “ Original Termination Date ”) to July 25, 2023 (the “ Charter Extension Date ”) and to allow the Company, without another stockholder vote, to elect to extend the Termination Date to consummate an Initial Business Combination on a monthly basis up to five times by an additional one month each time after the Charter Extension Date, by resolution of the Company’s board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until December 25, 2023, or a total of up to eight months after the Original Termination Date, unless the closing o

On April 21, 2023, Accretion Acquisition Corp. (the “ Company ”) issued an unsecured promissory note (the “ Note ”) to Accretion Acquisition Sponsor, LLC (the “ Sponsor ”) in the principal amount of $240,000 in connection with the Charter Amendment (as defined below).