Distoken Acquisition issues up to $1M promissory note to sponsor for working capital

Distoken Acquisition Corp

Unsecured note up to $1,000,000 issued to sponsor Xiaosen Sponsor LLC on Feb 26, 2024.
Note bears no interest and matures upon consummation of initial business combination or liquidation.
Drawdowns require sponsor approval; each draw must be at least $10,000 unless agreed otherwise.
Payee waived any rights to trust account proceeds from the IPO.
Funds are for general working capital needs of the SPAC.

Key facts

Extracted from this filing and checked against the source text.

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

Distoken Acquisition Corp entered into Note with Xiaosen Sponsor LLC valued at aggregate principal amount of up to $1,000,000 (effective 2024-02-26).

Action: entry
Counterparty: Xiaosen Sponsor LLC
Value: aggregate principal amount of up to $1,000,000
Effective: 2024-02-26

Exact text from the filing

On February 26, 2024, Distoken Acquisition Corporation (the “ Company ”) issued an unsecured promissory note (the “ Note ”) in the aggregate principal amount of up to $1,000,000 to Xiaosen Sponsor LLC

View on SEC.gov

747 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001104659-24-028730

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.