secwatch.observer — SEC 8-K summary
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Issuer:     Distoken Acquisition Corp (—)
CIK:        0001818605
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001104659-24-028730
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818605/000110465924028730/0001104659-24-028730-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818605/000110465924028730/tm247452d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-028730

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer