---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-068071"
form_type: "8-K"
ticker: null
cik: "0001852633"
company_name: "Pinstripes Holdings, Inc."
filed_at: "2023-06-05T23:59:59+00:00"
generated_at: "2026-06-14T07:34:49.041214+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Banyan Acquisition issues up to $2M promissory notes to chairman and CEO for working capital

## Summary
- Jerry Hyman and Keith Jaffee each received promissory notes of up to $1,000,000.
- Initial $100,000 funded per note; proceeds used for general working capital.
- Notes mature upon business combination; non-interest bearing; up to $750,000 per note convertible into warrants at $1.00/warrant.
- Warrants are identical to private placement warrants issued to sponsor at IPO.
- Repayment only from funds outside trust if no business combination occurs.

## SEC filing metadata
- accession: 0001104659-23-068071
- form_type: 8-K
- cik: 0001852633
- company_name: Pinstripes Holdings, Inc.
- filed_at: 2023-06-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1852633/000110465923068071/0001104659-23-068071-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852633/000110465923068071/tm2317727d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-068071
- JSON: https://secwatch.observer/filing/0001104659-23-068071.json
- Plain text: https://secwatch.observer/filing/0001104659-23-068071.txt

## Key facts
- Debt Financings
  Pinstripes Holdings, Inc. incurred loan of total principal amount of up to $1,000,000 with Jerry Hyman maturing mature upon closing of the Company’s initial business combination.
  - Instrument: loan
  - Principal: total principal amount of up to $1,000,000
  - Counterparty: Jerry Hyman
  - Maturity: mature upon closing of the Company’s initial business combination
  - Event: incurrence
  source text: (the “Notes”) to the Company’s chairman, Jerry Hyman and to the Company’s chief executive officer, Keith Jaffee. Each of the Notes is in the total principal amount of up to $1,000,000 and each of Jerry Hyman and Keith Jaffee have funded an initial principal amount of $100,000. The proceeds of the Notes, which may be drawn down from time to time until the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852633/000110465923068071/0001104659-23-068071-index.htm
- Debt Financings
  Pinstripes Holdings, Inc. incurred loan of total principal amount of up to $1,000,000 with Keith Jaffee maturing mature upon closing of the Company’s initial business combination.
  - Instrument: loan
  - Principal: total principal amount of up to $1,000,000
  - Counterparty: Keith Jaffee
  - Maturity: mature upon closing of the Company’s initial business combination
  - Event: incurrence
  source text: (the “Notes”) to the Company’s chairman, Jerry Hyman and to the Company’s chief executive officer, Keith Jaffee. Each of the Notes is in the total principal amount of up to $1,000,000 and each of Jerry Hyman and Keith Jaffee have funded an initial principal amount of $100,000. The proceeds of the Notes, which may be drawn down from time to time until the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852633/000110465923068071/0001104659-23-068071-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.