SunPower Inc. (SPWR): debt financing — SPAC Freedom Acquisition I Corp. issues $300K promissory note to sponsor for working capital

SunPower Inc.

Issued unsecured promissory note for up to $300,000 to sponsor Freedom Acquisition I LLC.
Note bears no interest; principal due upon consummation of a business combination.
Note will be forgiven if no business combination closed within the company's specified deadline.
Proceeds used for general working capital purposes; sponsor waives claims against trust account.
Default triggers include non-payment within 5 business days or bankruptcy events.

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

SunPower Inc. incurred loan of up to $300,000 with Freedom Acquisition I LLC at no interest maturing payable in full upon the consummation of the Company's business combination.

Instrument: loan
Principal: up to $300,000
Counterparty: Freedom Acquisition I LLC
Rate: no interest
Maturity: payable in full upon the consummation of the Company's business combination
Event: incurrence

Exact text from the filing

On May 31, 2023, Freedom Acquisition I Corp. (the “Company”) issued an unsecured promissory note (the “Note”) in the amount of up to $300,000 to Freedom Acquisition I LLC (the “Payee”).

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7 debt financings filed in the last 30 days. Browse all debt financings →

SunPower Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-157818

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