Forbion European Acquisition Corp.: debt financing — Forbion European Acquisition extends deadline with $1.27M sponsor loan and $300K working capital note

Forbion European Acquisition Corp.

Company issued $1,265,000 zero-interest extension note to sponsor to extend business combination deadline from June 14 to September 14, 2023.
Also issued $300,000 working capital promissory note from sponsor for general corporate purposes.
Extension note repayable at earlier of business combination or December 14, 2023; sponsor may convert up to $600,000 into warrants at $1.50 each.
Both notes are unsecured, bear no interest, and are repayable only from funds outside the trust account if no business combination occurs.

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

Forbion European Acquisition Corp. incurred loan of $300,000 with Forbion Growth Sponsor FEAC I B.V. at bears no interest maturing the earlier of (i) the date of consummation of the Company's initial merger, share exchange, asset acquisition, share purchase, reorganization or similar busine.

Instrument: loan
Principal: $300,000
Counterparty: Forbion Growth Sponsor FEAC I B.V.
Rate: bears no interest
Maturity: the earlier of (i) the date of consummation of the Company's initial merger, share exchange, asset acquisition, share purchase, reorganization or similar busine
Event: incurrence

Exact text from the filing

On June 6, 2023, Forbion European Acquisition Corp. (the “ Company ”) issued an unsecured promissory note (the “ Working Capital Note ”) in the total principal amount of $300,000 to Forbion Growth Sponsor FEAC I B.V. (the “ Sponsor ”).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Forbion European Acquisition Corp. incurred loan of $1,265,000 with Forbion Growth Sponsor FEAC I B.V. at bears no interest maturing the earlier of (i) the date of consummation of the Business Combination and (ii) the Maturity Date.

Instrument: loan
Principal: $1,265,000
Counterparty: Forbion Growth Sponsor FEAC I B.V.
Rate: bears no interest
Maturity: the earlier of (i) the date of consummation of the Business Combination and (ii) the Maturity Date
Event: incurrence

Exact text from the filing

On June 6, 2023, the Company issued an unsecured promissory note (the “ Extension Note ”) in the total principal amount of $1,265,000 to the Sponsor.

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Source: SEC EDGAR

accession 0001193125-23-161740

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