Everest Consolidator Acquisition Corp: debt financing — Everest Consolidator Acquisition Corp. issues $1.5M promissory note to sponsor for working capital

Everest Consolidator Acquisition Corp

Unsecured note issued to Sponsor, Everest Consolidator Sponsor, LLC, on May 7, 2023 for up to $1,500,000.
Note bears 6% interest; total repayment capped at $1,500,000 plus accrued interest.
Repayment due by Dec 31, 2023 or upon completion of initial business combination, whichever is earlier.
Loan proceeds intended for working capital needs before business combination.

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

Everest Consolidator Acquisition Corp incurred loan of up to $1,500,000 with Everest Consolidator Sponsor, LLC at 6% maturing December 31, 2023 or the consummation of the Company's initial business combination.

Instrument: loan
Principal: up to $1,500,000
Counterparty: Everest Consolidator Sponsor, LLC
Rate: 6%
Maturity: December 31, 2023 or the consummation of the Company's initial business combination
Event: incurrence

Exact text from the filing

On May 7, 2023, Everest Consolidator Acquisition Corporation. (the "Company") issued an unsecured promissory note (the "Note") in the principal amount of up to $1,500,000 to Everest Consolidator Sponsor, LLC (the "Sponsor"). The Note obliges the Company to repay the total amount drawn, together with accrued interest at the rate of 6% on the total amount drawn

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Source: SEC EDGAR

accession 0001104659-23-081312

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