Future Health ESG Corp.: debt financing — Future Health ESG Corp. issues up to $1M promissory note to sponsor

Future Health ESG Corp.

Note for up to $1,000,000 issued to sponsor Future Health ESG Associates 1, LLC, drawn down as needed for operating costs.
Note bears no interest; principal due on consummation of initial business combination (Maturity Date).
If no business combination by Dec 31, 2024, no amount is due under the Note.
Sponsor may elect to convert outstanding balance into warrants at $1.00 per warrant upon maturity.
Sponsor waived any claims against the trust account proceeds from the IPO and private placement.

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

Future Health ESG Corp. incurred loan of up to $1,000,000 with Future Health ESG Associates 1, LLC at bears no interest maturing on the date of the consummation of the Company’s initial business combination.

Instrument: loan
Principal: up to $1,000,000
Counterparty: Future Health ESG Associates 1, LLC
Rate: bears no interest
Maturity: on the date of the consummation of the Company’s initial business combination
Event: incurrence

Exact text from the filing

On January 29, 2024, Future Health ESG Corp. (the “Company”) issued an unsecured promissory note (the “Note”), in the amount of up to $1,000,000 to Future Health ESG Associates 1, LLC, the sponsor of the Company.

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Source: SEC EDGAR

accession 0001104659-24-007840

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