secwatch.observer — SEC 8-K summary
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Issuer:     Enphys Acquisition Corp. (—)
CIK:        0001850502
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001140361-24-011403
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPAC Enphys extends note deadline to Dec 31, 2024; obtains $200k in new sponsor loans for ops
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/0001140361-24-011403-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1850502/000114036124011403/ef20023196_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-011403

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