---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-097328"
form_type: "8-K"
ticker: null
cik: "0001880441"
company_name: "Battery Future Acquisition Corp."
filed_at: "2023-04-11T23:59:59+00:00"
generated_at: "2026-06-17T03:51:56.487931+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# BFAC issues up to $1M convertible note to Pala Investments for working capital

## Summary
- Aggregate principal up to $1,000,000; each advance not to exceed $500,000.
- Interest at 10% per annum; maturity the earlier of June 16, 2023 or business combination.
- Pala may convert outstanding principal/interest into warrants at $1.00 per warrant, terms identical to IPO private placement warrants.
- Proceeds used for working capital related to pursuing a business combination.
- Note is unsecured; Pala waives any claims against the trust account.

## SEC filing metadata
- accession: 0001193125-23-097328
- form_type: 8-K
- cik: 0001880441
- company_name: Battery Future Acquisition Corp.
- filed_at: 2023-04-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1880441/000119312523097328/0001193125-23-097328-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1880441/000119312523097328/d481347d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-097328
- JSON: https://secwatch.observer/filing/0001193125-23-097328.json
- Plain text: https://secwatch.observer/filing/0001193125-23-097328.txt

## Key facts
- Debt Financings
  Battery Future Acquisition Corp. incurred convertible notes of $1,000,000 with Pala Investments Limited at ten percent (10.00%) per annum maturing the earlier of (i) June 16, 2023 (as may be extended in accordance with the terms of the Note) and (ii) the effective date of a business combination.
  - Instrument: convertible notes
  - Principal: $1,000,000
  - Counterparty: Pala Investments Limited
  - Rate: ten percent (10.00%) per annum
  - Maturity: the earlier of (i) June 16, 2023 (as may be extended in accordance with the terms of the Note) and (ii) the effective date of a business combination
  - Event: incurrence
  source text: On April 5, 2023, Battery Future Acquisition Corp. (“BFAC”) issued an unsecured convertible promissory note in the aggregate principal amount of $1,000,000 (the “Note”) to Pala Investments Limited (“Pala”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1880441/000119312523097328/0001193125-23-097328-index.htm
- Material Agreements
  Battery Future Acquisition Corp. entered into Note with Pala Investments Limited valued at $1,000,000 (effective 2023-04-05).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Pala Investments Limited
  - Value: $1,000,000
  - Effective: 2023-04-05
  source text: On April 5, 2023, Battery Future Acquisition Corp. (“BFAC”) issued an unsecured convertible promissory note in the aggregate principal amount of $1,000,000 (the “Note”) to Pala Investments Limited (“Pala”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1880441/000119312523097328/0001193125-23-097328-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.