Chenghe Acquisition Co.: debt financing — Chenghe Acquisition Co. obtains $300K sponsor loan for working capital

Chenghe Acquisition Co.

Issued non-interest-bearing promissory note to sponsor Chenghe Investment Co. for up to $300,000.
Note is unsecured, non-convertible, repayable upon completion of initial business combination.
Proceeds to be used for general corporate purposes pending a merger target.
Lender waives any claim against the SPAC's trust account.
This is typical SPAC bridge financing; no change in merger timeline disclosed.

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 $300,000 with Chenghe Investment Co. at non-interest bearing maturing on the effective date of an initial merger, share exchange, reorganization or similar business combination.

Instrument: loan
Principal: $300,000
Counterparty: Chenghe Investment Co.
Rate: non-interest bearing
Maturity: on the effective date of an initial merger, share exchange, reorganization or similar business combination
Event: incurrence

Exact text from the filing

On February 1, 2024, 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 $300,000.

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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 $300,000 (effective 2024-02-01).

Action: entry
Agreement: notes offering
Counterparty: Chenghe Investment Co.
Value: $300,000
Effective: 2024-02-01

Exact text from the filing

On February 1, 2024, 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 $300,000.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-24-009132

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