secwatch.observer — SEC 8-K summary
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Issuer:     Pinstripes Holdings, Inc. (—)
CIK:        0001852633
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001104659-23-068071
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852633/000110465923068071/0001104659-23-068071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852633/000110465923068071/tm2317727d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-068071

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer