Focus Impact BH3 Acquisition Co: debt financing — Focus Impact BH3 Acquisition issues up to $500K promissory note to sponsor

Focus Impact BH3 Acquisition Co

Unsecured note of up to $500,000 issued to Focus Impact BHAC Sponsor LLC on Feb 26, 2024.
Note bears no interest; principal due upon consummation of initial business combination.
Payable only from funds outside trust if no business combination; sponsor waives trust account claims.
Sponsor may convert up to full principal into warrants at $1.50/warrant, identical to IPO private warrants.

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

Focus Impact BH3 Acquisition Co incurred loan of up to $500,000 with Focus Impact BHAC Sponsor, LLC maturing upon closing of the Company’s initial business combination.

Instrument: loan
Principal: up to $500,000
Counterparty: Focus Impact BHAC Sponsor, LLC
Maturity: upon closing of the Company’s initial business combination
Event: incurrence

Exact text from the filing

On February 26, 2024, Focus Impact BHAC Acquisition Company (the “Company”) issued an unsecured promissory note in the total principal amount of up to $500,000 (the “Promissory Note”) to Focus Impact BHAC Sponsor, LLC.

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Source: SEC EDGAR

accession 0001140361-24-010657

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