Pegasus Digital Mobility Acquisition Corp.: debt financing — Pegasus Digital Mobility SPAC extends combination deadline to July 26, 2023 with $719,907 trust deposit

Pegasus Digital Mobility Acquisition Corp.

Funded trust account with $719,907.30 for second three-month extension, moving deadline from April 26 to July 26, 2023.
Issued non-interest bearing promissory note to Sponsor for same amount; note repayable earliest of Dec 31, 2023, business combination close, or break fee receipt.
Note will be forgiven if no business combination is consummated and no trust funds available outside trust.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Pegasus Digital Mobility Acquisition Corp. incurred loan of $719,907.30 with Pegasus Digital Mobility Sponsor LLC at bears no interest maturing December 31, 2023.

Instrument: loan
Principal: $719,907.30
Counterparty: Pegasus Digital Mobility Sponsor LLC
Rate: bears no interest
Maturity: December 31, 2023
Event: incurrence

Exact text from the filing

On April 24, 2023, the Company issued a non-convertible unsecured promissory note (the “Extension Note”) in the principal amount of $719,907.30 to Pegasus Digital Mobility Sponsor LLC, a Cayman Islands limited liability company (the “Sponsor”).

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Source: SEC EDGAR

accession 0001104659-23-049053

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