Frontier Investment Corp: debt financing — Frontier Investment Corp issues $500K promissory note to sponsor for working capital

Frontier Investment Corp

$500,000 unsecured promissory note issued to sponsor Frontier Disruption Capital on Sept 25, 2023.
Note bears no interest; matures upon consummation of a business combination or liquidation.
Sponsor can elect conversion of principal into private placement warrants at $1.00 per warrant.
Each warrant entitles holder to purchase one Class A ordinary share at $11.50 per share.
Payee waives any claim against the trust account established from the IPO proceeds.

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

Frontier Investment Corp incurred loan of $500,000 with Frontier Disruption Capital at does not bear interest maturing at such time the Company consummates a business combination.

Instrument: loan
Principal: $500,000
Counterparty: Frontier Disruption Capital
Rate: does not bear interest
Maturity: at such time the Company consummates a business combination
Event: incurrence

Exact text from the filing

On September 25, 2023, Frontier Investment Corp (the “ Company ”) issued one unsecured promissory note (the “ Note ”) in an amount of $500,000, to Frontier Disruption Capital (“ Sponsor ”), for working capital. The Note does not bear interest and matures at such time the Company consummates a business combination.

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Source: SEC EDGAR

accession 0001104659-23-104301

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