Chenghe Acquisition Co.: debt financing — Chenghe Acquisition issues $350K promissory note to sponsor for extension funding

Chenghe Acquisition Co.

Up to $350,000 non-interest bearing, non-convertible, unsecured note issued to Chenghe Investment Co.
Up to $150,000 to fund trust deposit for extension; remaining $200,000 for general corporate purposes.
Principal due on effective date of initial business combination unless accelerated upon default.
Note is unsecured, bears no interest, and may be prepaid at any time.
Payee waived any claim against trust account established from 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

Chenghe Acquisition Co. incurred loan of principal amount of up to $350,000 with Chenghe Investment Co. at non-interest bearing maturing on the effective date of an initial merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Comp.

Instrument: loan
Principal: principal amount of up to $350,000
Counterparty: Chenghe Investment Co.
Rate: non-interest bearing
Maturity: on the effective date of an initial merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Comp
Event: incurrence

Exact text from the filing

On October 25, 2023, Chenghe Acquisition Co. (the “Company”) issued a non-interest bearing non-convertible unsecured promissory note (the “Note”) to Chenghe Investment Co., a Cayman Islands exempted company, for a principal amount of up to $350,000.

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

Chenghe Acquisition Co. entered into Note with Chenghe Investment Co. valued at up to $350,000 (effective 2023-10-25).

Action: entry
Agreement: notes offering
Counterparty: Chenghe Investment Co.
Value: up to $350,000
Effective: 2023-10-25

Exact text from the filing

On October 25, 2023, Chenghe Acquisition Co. (the “Company”) issued a non-interest bearing non-convertible unsecured promissory note (the “Note”) to Chenghe Investment Co., a Cayman Islands exempted company, for a principal amount of up to $350,000.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-111196

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