Golden Falcon Acquisition Corp.: debt financing — Golden Falcon enters $2M promissory note with sponsor, replacing prior $1M note

Golden Falcon Acquisition Corp.

Amended and restated promissory note for up to $2M from Golden Falcon Sponsor Group; replaces prior $1M note.
Note carries zero interest; principal due upon consummation of initial business combination.
Sponsor may convert up to $1.5M into warrants at $1.00 per warrant, identical to IPO private placement warrants.
Proceeds used for working capital before business combination; drawdowns available until maturity.

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

Golden Falcon Acquisition Corp. incurred loan of up to $2,000,000 with Golden Falcon Sponsor Group, LLC at does not bear interest maturing the date on which the Company consummates its initial business combination.

Instrument: loan
Principal: up to $2,000,000
Counterparty: Golden Falcon Sponsor Group, LLC
Rate: does not bear interest
Maturity: the date on which the Company consummates its initial business combination
Event: incurrence

Exact text from the filing

On May 1, 2023, Golden Falcon Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of up to $2,000,000 to Golden Falcon Sponsor Group, LLC (the “Sponsor”)

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Source: SEC EDGAR

accession 0001193125-23-132449

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