--- schema_version: "secwatch.filing_event.v1" accession: "0001140361-24-011403" form_type: "8-K" ticker: null cik: "0001850502" company_name: "Enphys Acquisition Corp." filed_at: "2024-03-05T23:59:59+00:00" generated_at: "2026-06-05T04:09:55.529357+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # SPAC Enphys extends note deadline to Dec 31, 2024; obtains $200k in new sponsor loans for ops ## Summary - First Amendment extends 2023 note termination from July 1, 2024 to Dec 31, 2024 if no business combination. - Issued variable-rate note (up to $100k, Term SOFR + 3%) with sponsor to fund daily ops and due diligence. - Issued fixed-rate note (up to $100k, 12% p.a.) with same terms; both notes mature upon deal or terminate if no deal by Dec 31, 2024. - All loans non-recourse to the company if no business combination by Dec 31, 2024; sponsor waives claims against trust account. - Drawdowns minimum $10k; maximum outstanding $100k per note; interest capitalized (PIK). ## SEC filing metadata - accession: 0001140361-24-011403 - form_type: 8-K - cik: 0001850502 - company_name: Enphys Acquisition Corp. - filed_at: 2024-03-05T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/ef20023196_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001140361-24-011403 - JSON: https://secwatch.observer/filing/0001140361-24-011403.json - Plain text: https://secwatch.observer/filing/0001140361-24-011403.txt ## Key facts - Debt Financings Enphys Acquisition Corp. amended loan of Not specified with Enphys Acquisition Sponsor LLC at Not specified maturing Extended to December 31, 2024. - Instrument: loan - Principal: Not specified - Counterparty: Enphys Acquisition Sponsor LLC - Rate: Not specified - Maturity: Extended to December 31, 2024 - Event: amendment source text: On March 1, 2024, Enphys Acquisition Corp. (the “Company”) and Enphys Acquisition Sponsor LLC, a Delaware limited liability company (the “Payee”) entered into a First Amendment to Promissory Note (the “Amendment”) to amend the promissory note issued by the Company to Payee on October 30, 2023 (the “2023 Promissory Note”) as described in the Current Report on Form 8-K filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) on October 30, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm - Debt Financings Enphys Acquisition Corp. incurred loan of an aggregate of $100,000 with Enphys Acquisition Sponsor LLC at twelve percent (12%) per annum maturing the date on which the Company consummates an initial business combination, but if not by December 31, 2024, then cancellation. - Instrument: loan - Principal: an aggregate of $100,000 - Counterparty: Enphys Acquisition Sponsor LLC - Rate: twelve percent (12%) per annum - Maturity: the date on which the Company consummates an initial business combination, but if not by December 31, 2024, then cancellation - Event: incurrence source text: On March 31, 2024, the Company issued a promissory note (the “Variable Rate Promissory Note”) to the Payee, pursuant to which the Company may borrow an aggregate of $100,000 from the Payee in order to fund costs and expenses related to the Company’s daily operations and due diligence in connection with a potential business combination and which the Company shall repay on the date on which the Company consummates an initial business combination. evidence_url: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm - Debt Financings Enphys Acquisition Corp. incurred loan of an aggregate of $100,000 with Enphys Acquisition Sponsor LLC at twelve percent (12%) per annum maturing the date on which the Company consummates an initial business combination, but if not by December 31, 2024, then cancellation. - Instrument: loan - Principal: an aggregate of $100,000 - Counterparty: Enphys Acquisition Sponsor LLC - Rate: twelve percent (12%) per annum - Maturity: the date on which the Company consummates an initial business combination, but if not by December 31, 2024, then cancellation - Event: incurrence source text: On March 1, 2024, the Company issued a promissory note (the “Fixed Rate Promissory Note”) to the Payee, pursuant to which the Company may borrow an aggregate of $100,000 from the Payee in order to fund costs and expenses related to the Company’s daily operations and due diligence in connection with a potential business combination and which the Company shall repay on the date on which the Company consummates an initial business combination. evidence_url: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm - Material Agreements Enphys Acquisition Corp. amended First Amendment to Promissory Note with Enphys Acquisition Sponsor LLC (effective 2024-03-01). - Action: amendment - Agreement: credit facility - Counterparty: Enphys Acquisition Sponsor LLC - Effective: 2024-03-01 source text: On March 1, 2024, Enphys Acquisition Corp. (the “Company”) and Enphys Acquisition Sponsor LLC, a Delaware limited liability company (the “Payee”) entered into a First Amendment to Promissory Note (the “Amendment”) to amend the promissory note issued by the Company to Payee on October 30, 2023 (the “2023 Promissory Note”) evidence_url: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm - Material Agreements Enphys Acquisition Corp. entered into Fixed Rate Promissory Note with Enphys Acquisition Sponsor LLC valued at $100,000 (effective 2024-03-01). - Action: entry - Agreement: credit facility - Counterparty: Enphys Acquisition Sponsor LLC - Value: $100,000 - Effective: 2024-03-01 source text: On March 1, 2024, the Company issued a promissory note (the “Fixed Rate Promissory Note”) to the Payee, pursuant to which the Company may borrow an aggregate of $100,000 from the Payee evidence_url: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm - Material Agreements Enphys Acquisition Corp. entered into Variable Rate Promissory Note with Enphys Acquisition Sponsor LLC valued at $100,000 (effective 2024-03-31). - Action: entry - Agreement: credit facility - Counterparty: Enphys Acquisition Sponsor LLC - Value: $100,000 - Effective: 2024-03-31 source text: On March 31, 2024, the Company issued a promissory note (the “Variable Rate Promissory Note”) to the Payee, pursuant to which the Company may borrow an aggregate of $100,000 from the Payee evidence_url: https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.