Leo Holdings Corp. II: debt financing — Leo Holdings Corp. II draws $240K under Note to extend Business Combination deadline to May 12, 2023

Leo Holdings Corp. II

Drew $240,000 from Promissory Note with Leo Investors II LP; deposited into trust account.
Extends deadline to complete initial business combination from April 12 to May 12, 2023.
First of six permissible one-month extensions under governing documents.
Total outstanding under Note is now $960,000 (initial $720k plus $240k). Note has conversion option to warrants at $1.50 each.

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

Leo Holdings Corp. II incurred loan of $240,000 with Leo Investors II Limited Partnership at does not bear interest maturing matures upon closing of the Company’s initial business combination.

Instrument: loan
Principal: $240,000
Counterparty: Leo Investors II Limited Partnership
Rate: does not bear interest
Maturity: matures upon closing of the Company’s initial business combination
Event: incurrence

Exact text from the filing

On April 11, 2023, Leo Holdings Corp. II (the “Company” or “Leo”) drew an aggregate of $240,000 (the “Extension Funds”), pursuant to the Promissory Note, dated January 12, 2023 between the Company and Leo Investors II Limited Partnership (the “Note”)

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Source: SEC EDGAR

accession 0001193125-23-100546

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