Catcha Investment Corp: debt financing — Catcha Investment Corp shareholders approve extension to Feb 2024; ~$283M redeemed

Catcha Investment Corp

Extension of business combination deadline from Feb 17, 2023 to Feb 17, 2024 approved by 26.9M votes for vs 3.99M against.
Holders of 27,785,141 Class A shares redeemed at ~$10.18/share, for aggregate ~$282.9M from trust account.
Sponsor Catcha Holdings LLC provides up to $900k unsecured convertible promissory note for monthly $75k trust deposits.
Loan may convert into warrants at $1.50/warrant, identical terms to existing private placement warrants.
Approximately $17.1M remains in trust after redemptions, providing extended runway for a business combination.

item 1.01 item 5.07 item 2.03 item 3.02 item 3.03 item 5.03 item 9.01

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

Catcha Investment Corp incurred convertible notes of $900,000 with Catcha Holdings LLC at no interest maturing the earlier of (a) the consummation of the Company’s initial business combination and (b) the liquidation of the Company.

Instrument: convertible notes
Principal: $900,000
Counterparty: Catcha Holdings LLC
Rate: no interest
Maturity: the earlier of (a) the consummation of the Company’s initial business combination and (b) the liquidation of the Company
Event: incurrence

Exact text from the filing

the Company issued an unsecured convertible promissory note (the "Extension Note") to Catcha Holdings LLC (the "Sponsor"), pursuant to which the Company may borrow up to $900,000 (the "Extension Loan") from the Sponsor.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Catcha Investment Corp: Amended articles of association to extend business combination deadline from February 17, 2023 to Extended Date (effective 2023-02-17).

Change: charter amendment
Effective: 2023-02-17

Exact text from the filing

At the Extraordinary General Meeting, the Company's shareholders approved an amendment to the Company's amended and restated memorandum and articles of association (the “Extension Amendment”) to extend the date by which the Company has to consummate a business combination from February 17, 2023 to the Extended Date (the “Extension Amendment Proposal”).

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.7

Catcha Investment Corp shareholders approved Trust Amendment Proposal to extend the deadline for a business combination from February 17, 2023 to February 17, 2024 at the 2023-02-14 meeting.

Proposal: merger approval
Outcome: passed
Meeting: 2023-02-14

Exact text from the filing

At the Extraordinary General Meeting, the Company’s shareholders approved a proposal (the “Trust Amendment Proposal”) to amend the Company’s investment management trust agreement

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Source: SEC EDGAR

accession 0001193125-23-041980

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