Black Mountain Acquisition Corp.: debt financing — Black Mountain Acquisition extends deadline to July 18, 2023, deposits $160K into trust

Black Mountain Acquisition Corp.

Extension from June 18, 2023 to July 18, 2023 to consummate initial business combination.
Sponsor deposited $160,000 into trust account via non-interest-bearing promissory note.
Repayment due upon earlier of business combination or liquidation; may convert to warrants at $1.00 each.
If no business combination, loan repaid only from funds outside trust account.
No other material developments reported; SPAC continues seeking target.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

Black Mountain Acquisition Corp. incurred loan of $160,000 with Black Mountain Sponsor LLC at no interest maturing upon the earlier to occur of (i) the date on which the Company consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization o.

Instrument: loan
Principal: $160,000
Counterparty: Black Mountain Sponsor LLC
Rate: no interest
Maturity: upon the earlier to occur of (i) the date on which the Company consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization o
Event: incurrence

Exact text from the filing

On June 16, 2023, Black Mountain Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”) to Black Mountain Sponsor LLC (the “Sponsor”) in the principal amount of $160,000 in connection with the Extension (as defined below).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Black Mountain Acquisition Corp. entered into Note with Black Mountain Sponsor LLC valued at $160,000 (effective 2023-06-16).

Action: entry
Agreement: credit facility
Counterparty: Black Mountain Sponsor LLC
Value: $160,000
Effective: 2023-06-16

Exact text from the filing

On June 16, 2023, Black Mountain Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”) to Black Mountain Sponsor LLC (the “Sponsor”) in the principal amount of $160,000

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Source: SEC EDGAR

accession 0001193125-23-169665

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