ACCRETION ACQUISITION CORP.: debt financing — Accretion Acquisition extends business combination deadline to Aug 25, 2023 via $80K sponsor note

ACCRETION ACQUISITION CORP.

Entered $80,000 unsecured promissory note with sponsor Accretion Acquisition Sponsor, LLC.
Note bears no interest; due upon earlier of liquidation or closing of initial business combination.
Extension moves the deadline from July 25, 2023 to August 25, 2023.
If no business combination consummated, note will be forgiven unless company has funds 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

ACCRETION ACQUISITION CORP. incurred loan of $80,000 with Accretion Acquisition Sponsor, LLC at no interest maturing 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,.

Instrument: loan
Principal: $80,000
Counterparty: Accretion Acquisition Sponsor, LLC
Rate: no interest
Maturity: 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,
Event: incurrence

Exact text from the filing

On July 24, 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 $80,000 in connection with the Extension (as defined below).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ACCRETION ACQUISITION CORP. entered into the Note with Accretion Acquisition Sponsor, LLC valued at $80,000 (effective 2023-07-24).

Action: entry
Agreement: notes offering
Counterparty: Accretion Acquisition Sponsor, LLC
Value: $80,000
Effective: 2023-07-24

Exact text from the filing

On July 24, 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 $80,000 in connection with the Extension (as defined below).

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-083502

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