Pegasus Digital Mobility Acquisition Corp.: debt financing — Pegasus Digital Mobility issues new $1M promissory note, amends existing notes

Pegasus Digital Mobility Acquisition Corp.

New $1M non-convertible unsecured promissory note issued to Sponsor, due April 30, 2024.
Existing notes ($2.25M, $1.1M, $719k, $1.4M, $750k) amended to align terms with new note.
All notes bear no interest, repayable upon business combination or break-fee receipt, otherwise forgiven.
Notes extend working capital runway for pending business combination; no trust account recourse.

item 1.01 item 2.03 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 0.7

Pegasus Digital Mobility Acquisition Corp. amended loan with Pegasus Digital Mobility Sponsor LLC at bears no interest.

Instrument: loan
Counterparty: Pegasus Digital Mobility Sponsor LLC
Rate: bears no interest
Event: amendment

Exact text from the filing

The Company also agreed to amend and restate certain provisions of a) the non-convertible unsecured promissory note in the principal amount of $2,250,000 it issued to the Sponsor on January 23, 2023, first amended and restated on March 15, 2023 (now as additionally amended and restated, the " January 2023 Promissory Note "), b) the non-convertible unsecured promissory note in the principal amount of $1,100,000 it issued to the Sponsor on March 15, 2023 (as amended and restated, the " March 2023 Promissory Note "), c) the non-convertible unsecured promissory note in the principal amount of $719,907.30 it issued to the Sponsor on April 24, 2023 (as amended and restated, the " April 2023 Promissory Note "), d) the non-convertible unsecured promissory note in the principal amount of $1,400,000 it issued to the Sponsor on May 31, 2023 (as amended and restated, the " May 2023 Promissory Note "), and e) the non-convertible unsecured promissory note in the principal amount of $750,482.70 it is

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Pegasus Digital Mobility Acquisition Corp. incurred loan of up to $1,000,000.00 with Pegasus Digital Mobility Sponsor LLC at bears no interest maturing the earliest of April 30, 2024, the date on which the Company consummates a business combination, or within three (3) business days of the receipt by the Compan.

Instrument: loan
Principal: up to $1,000,000.00
Counterparty: Pegasus Digital Mobility Sponsor LLC
Rate: bears no interest
Maturity: the earliest of April 30, 2024, the date on which the Company consummates a business combination, or within three (3) business days of the receipt by the Compan
Event: incurrence

Exact text from the filing

On November 1, 2023, Pegasus Digital Mobility Acquisition Corp. (the " Company ") issued a non-convertible unsecured promissory note (the " November 2023 Promissory Note ") in the principal amount of up to $1,000,000.00 to Pegasus Digital Mobility Sponsor LLC, a Cayman Islands limited liability company (the " Sponsor ").

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Source: SEC EDGAR

accession 0001104659-23-113390

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