---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-132630"
form_type: "8-K"
ticker: null
cik: "0001883962"
company_name: "ALSP Orchid Acquisition Corp I"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:50:01.329098+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# SPAC issues $350K promissory note to sponsor at 4.8% interest, due on business combination or winding up

## Summary
- Principal $350,000 unsecured note issued April 28, 2023 to ALSP Orchid Sponsor LLC.
- Interest rate 4.8% per annum, compounded semi-annually, payable on Maturity Date.
- Maturity: earlier of initial business combination or effective winding up of the company.
- Sponsor waives any claim against the trust account, per trust waiver clause.
- Funding received in full upon execution; customary events of default apply.

## SEC filing metadata
- accession: 0001193125-23-132630
- form_type: 8-K
- cik: 0001883962
- company_name: ALSP Orchid Acquisition Corp I
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883962/000119312523132630/0001193125-23-132630-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883962/000119312523132630/d487858d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-132630
- JSON: https://secwatch.observer/filing/0001193125-23-132630.json
- Plain text: https://secwatch.observer/filing/0001193125-23-132630.txt

## Key facts
- Debt Financings
  ALSP Orchid Acquisition Corp I incurred loan of $350,000 with ALSP Orchid Sponsor LLC at 4.8% per annum maturing the earliest to occur of (i) the date on which the Company consummates an initial business combination or (ii) the date that the winding up of the Company is ef.
  - Instrument: loan
  - Principal: $350,000
  - Counterparty: ALSP Orchid Sponsor LLC
  - Rate: 4.8% per annum
  - Maturity: the earliest to occur of (i) the date on which the Company consummates an initial business combination or (ii) the date that the winding up of the Company is ef
  - Event: incurrence
  source text: On April 28, 2023, ALSP Orchid Acquisition Corporation I, a Cayman Islands exempted company (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of $350,000 to ALSP Orchid Sponsor LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883962/000119312523132630/0001193125-23-132630-index.htm

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