Forbion European Acquisition Corp.: debt financing — Forbion European Acquisition Corp. issues up to $900k promissory note to sponsor

Forbion European Acquisition Corp.

Issued unsecured promissory note to sponsor Forbion Growth Sponsor FEAC I B.V. for up to $900,000.
Initial $450,000 funded on March 24, 2023; additional $450,000 available for drawdown.
Note bears no interest, matures on Dec 14, 2023 or upon business combination, whichever earlier.
Sponsor may convert up to total principal into warrants at $1.50 per warrant, identical to IPO private placement warrants.
Repayment limited to funds outside trust account if no business combination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Forbion European Acquisition Corp. incurred loan of up to $900,000 with Forbion Growth Sponsor FEAC I B.V. at bears no interest maturing the earlier of (i) the date of consummation of the Company’s initial merger, share exchange, asset acquisition, share purchase, reorganization or similar busine.

Instrument: loan
Principal: up to $900,000
Counterparty: Forbion Growth Sponsor FEAC I B.V.
Rate: bears no interest
Maturity: the earlier of (i) the date of consummation of the Company’s initial merger, share exchange, asset acquisition, share purchase, reorganization or similar busine
Event: incurrence

Exact text from the filing

On March 24, 2023, Forbion European Acquisition Corp. (the “ Company ”) issued an unsecured promissory note (the “ Note ”) in the total principal amount of up to $900,000 to Forbion Growth Sponsor FEAC I B.V. (the “ Sponsor ”).

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Source: SEC EDGAR

accession 0001193125-23-078902

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