Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Everest Consolidator Acquisition Corp amended loan of up to $3,500,000 with Everest Consolidator Sponsor, LLC at 6.0% for any principal amount drawn down up to $1,500,000 and 18.0% for any prin maturing the earlier of (x) the closing of the Company’s business combination pursuant to that certain Business Combination Agreement, dated May 19, 2023, by and among t.
- Instrument
- loan
- Principal
- up to $3,500,000
- Counterparty
- Everest Consolidator Sponsor, LLC
- Rate
- 6.0% for any principal amount drawn down up to $1,500,000 and 18.0% for any prin
- Maturity
- the earlier of (x) the closing of the Company’s business combination pursuant to that certain Business Combination Agreement, dated May 19, 2023, by and among t
- Event
- amendment
Exact text from the filing
On December 7, 2023, Everest Consolidator Acquisition Corporation. (the "Company") and Everest Consolidator Sponsor, LLC (the “Sponsor”) amended and restated the unsecured promissory note issued by the Company to the Sponsor, dated May 7, 2023 (the “A&R Promissory Note”), to, among other things, (i) increase the principal amount of the A&R Promissory Note that may be drawn upon by the Company up to $3,500,000, (ii) amend the rate at which interest accrues on the A&R Promissory Note to be (a) 6.0% for any principal amount drawn down up to $1,500,00 and (b) 18.0% for any principal amount drawn down greater than $1,500,000 and (iii) amend the maturity date to the earlier of (x) the closing of the Company’s business combination pursuant to that certain Business Combination Agreement, dated May 19, 2023, by and among the Company and the parties thereto or (y) February 28, 2024.
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