Learn CW Investment Corp: debt financing — Learn CW Investment Corp ups sponsor promissory note to $2.487M, adds warrant conversion option

Learn CW Investment Corp

Amended note increases borrowing capacity from $1.05M to $2.487M with sponsor CWAM LC Sponsor LLC.
Drawdowns permitted until earlier of October 13, 2024 or a business combination.
Note bears no interest; up to $1.5M convertible into private placement warrants at $1.00 each upon closing.
If no business combination, repayment only from funds outside the trust account; trust waived.
Existing $1.05M note dated May 3, 2022 is replaced and cancelled.

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

Learn CW Investment Corp incurred loan of up to $2,487,000 with CWAM LC Sponsor LLC at does not bear interest maturing upon the consummation of a Business Combination.

Instrument: loan
Principal: up to $2,487,000
Counterparty: CWAM LC Sponsor LLC
Rate: does not bear interest
Maturity: upon the consummation of a Business Combination
Event: incurrence

Exact text from the filing

On December 29, 2023, Learn CW Investment Corporation (the “Company”) issued an amended and restated promissory note (the “Restated Note”) in the principal amount of up to $2,487,000 to CWAM LC Sponsor LLC, the Company’s sponsor (“Sponsor”).

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

Source: SEC EDGAR

accession 0001140361-24-000451

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