ExcelFin Acquisition Corp.: debt financing — ExcelFin stockholders approve extension to July 25, 2024; 662,217 shares redeemed

ExcelFin Acquisition Corp.

Extension deadline moved from April 25 to July 25, 2024; approved with 6,972,107 for, 6,154 against.
Holders of 662,217 Class A shares exercised redemption rights in connection with extension.
Promissory note with sponsor amended to extend maturity to July 25, 2024; principal up to $1.5M.
Redemption limitation amendment also approved, eliminating $5M net tangible asset threshold.

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

ExcelFin Acquisition Corp. amended debt of up to $1,500,000 with ExcelFin SPAC LLC maturing the earlier of (i) July 25, 2024 or (ii) the date on which the Company consummates its initial business combination.

Principal: up to $1,500,000
Counterparty: ExcelFin SPAC LLC
Maturity: the earlier of (i) July 25, 2024 or (ii) the date on which the Company consummates its initial business combination
Event: amendment

Exact text from the filing

Acquisition Corp. (the “Company”) and ExcelFin SPAC LLC (the “Sponsor”) entered into an Amended and Restated Promissory Note in the aggregate principal amount of up to $1,500,000. The Amended and Restated Promissory Note had originally been issued by the Company to the Sponsor on March 18, 2021 (as amended on October 25, 2021, May 3, 2023 and October 31,

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

ExcelFin Acquisition Corp. amended Amended and Restated Promissory Note with ExcelFin SPAC LLC valued at $1,500,000 (effective 2023-10-26).

Action: amendment
Counterparty: ExcelFin SPAC LLC
Value: $1,500,000
Effective: 2023-10-26

Exact text from the filing

On October 26, 2023, ExcelFin Acquisition Corp. (the “Company”) and ExcelFin SPAC LLC (the “Sponsor”) entered into an Amended and Restated Promissory Note in the aggregate principal amount of up to $1,500,000.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ExcelFin Acquisition Corp. shareholders approved Redemption Limitation Amendment Proposal - to amend the Charter to eliminate the limitation that the Company shall not redeem public shares to the extent that such redemption would cause net tangible assets to be less than $5,000,001 at the 2024-04-25 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2024-04-25

Exact text from the filing

The voting results of the shares of the Common Stock were as follows: For Against Abstentions 6,977,959 302 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ExcelFin Acquisition Corp. shareholders approved Extension Amendment Proposal - to amend the Charter to extend the date by which the Company must effectuate an initial business combination from April 25, 2024 to July 25, 2024 at the 2024-04-25 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2024-04-25

Exact text from the filing

The voting results of the shares of the Common Stock were as follows: For Against Abstentions 6,972,107 6,154 0

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316 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001104659-24-052045

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