Zeo Energy Corp. (ZEO): debt financing — ESGEN Acquisition secures $1.5M promissory note from sponsor for working capital

Zeo Energy Corp.

Up to $1.5 million unsecured promissory note issued to sponsor ESGEN LLC.
Note is non-interest bearing, matures upon consummation of business combination.
Repayment only from funds outside the trust account; sponsor waives claims on trust.
Proceeds intended for working capital prior to 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 0.9

Zeo Energy Corp. incurred loan of up to $1,500,000 with ESGEN LLC, the Company’s sponsor (“Sponsor”) at does not bear interest maturing on the date of consummation the Business Combination.

Instrument: loan
Principal: up to $1,500,000
Counterparty: ESGEN LLC, the Company’s sponsor (“Sponsor”)
Rate: does not bear interest
Maturity: on the date of consummation the Business Combination
Event: incurrence

Exact text from the filing

On April 5, 2023, ESGEN Acquisition Corporation (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of up to $1,500,000 to ESGEN LLC, the Company’s sponsor (“Sponsor”), which may be drawn down by the Company from time to time prior to the consummation of the Company’s initial merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (the “Business Combination”).

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Source: SEC EDGAR

accession 0001193125-23-095307

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