Leo Holdings Corp. II: debt financing — Leo Holdings Corp. II draws $240K to extend business combination deadline to July 12, 2023

Leo Holdings Corp. II

Drew $240,000 under existing promissory note with sponsor to extend business combination deadline by one month.
Extension is the third of six possible one-month extensions; new deadline is July 12, 2023.
Note is non-interest bearing and matures upon consummation of a business combination.
Up to $1.5M of principal may be converted into warrants at $1.50 per warrant, identical to private placement warrants.

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 maturing matures upon closing of the Company's initial business combination.

Instrument: loan
Principal: $240,000
Counterparty: Leo Investors II Limited Partnership
Maturity: matures upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On June 12, 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 0001193125-23-165306

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