Cartesian Growth Corp II (RENEF): debt financing — Cartesian Growth Corp II issues $500K promissory note to sponsor for working capital

Cartesian Growth Corp II

Issued $500,000 unsecured promissory note to CGC II Sponsor LLC on October 12, 2023.
Note bears no interest; principal payable upon initial business combination or winding up.
Sponsor may convert principal into working capital warrants at $1.00 per warrant on maturity.
Working capital warrants have same terms as existing private placement warrants from IPO.
Proceeds provide additional working capital for the SPAC's operations.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Cartesian Growth Corp II incurred loan of 500,000 with CGC II Sponsor LLC at does not bear interest maturing earlier of the date on which the Company consummates its initial business combination and the date that the winding up of the Company is effective.

Instrument: loan
Principal: 500,000
Counterparty: CGC II Sponsor LLC
Rate: does not bear interest
Maturity: earlier of the date on which the Company consummates its initial business combination and the date that the winding up of the Company is effective
Event: incurrence

Exact text from the filing

On October 12, 2023, Cartesian Growth Corporation II (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of 500,000 to CGC II Sponsor LLC (the “Sponsor”).

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Cartesian Growth Corp II filing history →

Source: SEC EDGAR

accession 0001104659-23-109092

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