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

ACCRETION ACQUISITION CORP.

Issued $80,000 unsecured promissory note to sponsor Accretion Acquisition Sponsor, LLC to fund extension.
Deadline extended from October 25, 2023 to November 25, 2023 for initial business combination.
Note bears no interest, due upon liquidation or business combination close; forgiven if no deal.
Board approved extension per shareholder amendment allowing extensions up to December 25, 2023.

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 upon 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 acquisi.

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

Exact text from the filing

On October 19, 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).

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Source: SEC EDGAR

accession 0001104659-23-110476

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