PepperLime Health Acquisition Corp: debt financing — PepperLime Health secures up to $300K promissory note from sponsor; CFO gets $25K/month

PepperLime Health Acquisition Corp

Issued unsecured promissory note up to $300K to sponsor PepperOne LLC, convertible into ordinary shares at $10.00/share.
Note proceeds for extension payments and working capital; no interest; payable upon business combination or terminated if no deal.
Board approved monthly payment of $25,000 for CFO Eran Pilovsky for the shorter of six months or dissolution.
Sponsor member to contribute $300K to sponsor in exchange for shares; loan to company on same terms as note.

item 1.01 item 2.03 item 5.02 item 8.01 item 9.01

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

PepperLime Health Acquisition Corp incurred loan of up to $300,000 with PepperOne LLC maturing promptly after the date on which the Company consummates a business combination.

Instrument: loan
Principal: up to $300,000
Counterparty: PepperOne LLC
Maturity: promptly after the date on which the Company consummates a business combination
Event: incurrence

Exact text from the filing

On October 18, 2023, PepperLime Health Acquisition Corporation (the “Company”) issued an unsecured promissory note in the aggregate principal amount up to $300,000 (the “Note”) to PepperOne LLC, the Company’s sponsor

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

PepperLime Health Acquisition Corp entered into Note with PepperOne LLC valued at $300,000 (effective 2023-10-18).

Action: entry
Agreement: notes offering
Counterparty: PepperOne LLC
Value: $300,000
Effective: 2023-10-18

Exact text from the filing

On October 18, 2023, PepperLime Health Acquisition Corporation (the “Company”) issued an unsecured promissory note in the aggregate principal amount up to $300,000 (the “Note”) to PepperOne LLC, the Company’s sponsor (the “Sponsor”).

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Source: SEC EDGAR

accession 0001104659-23-110800

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