debt
confidence high
sentiment neutral
materiality 0.50
Plum Acquisition Corp. I issues $500K promissory note to Ursula Burns for working capital
VEEA INC.
- $500,000 unsecured promissory note issued to Ursula Burns, interest-free, repayable upon business combination.
- Note convertible at Payee's option into private placement warrants at $1.50 per warrant upon business combination.
- Up to 50% may be drawn before Aug 25, 2022; remaining after; minimum draw $50K.
- If no business combination, note is forgiven and Payee waives claims against trust account.