Invest Acquisition Corp: debt financing — Investcorp Europe Acquisition Corp I receives $1.7M sponsor loan for working capital and trust extension

Invest Acquisition Corp

Investcorp Europe Acquisition Corp I obtained a non-interest bearing loan of up to $1,700,000 from sponsor Europe Acquisition Holdings Limited on July 6, 2023.
Loan proceeds fund working capital and monthly trust contributions to extend the initial business combination deadline to December 17, 2023.
Loan is due and payable upon consummation of a business combination or the winding up of the company, with no interest accruing.
The lender waived any claims against the trust account, with repayment to occur only from trust proceeds after a business combination.

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

Invest Acquisition Corp incurred loan of up to $1,700,000 with Europe Acquisition Holdings Limited at non-interest bearing maturing on the earlier of (i) the date on which the Borrower consummates the transaction or (ii) the date of that the winding up of the Borrower is effective.

Instrument: loan
Principal: up to $1,700,000
Counterparty: Europe Acquisition Holdings Limited
Rate: non-interest bearing
Maturity: on the earlier of (i) the date on which the Borrower consummates the transaction or (ii) the date of that the winding up of the Borrower is effective
Event: incurrence

Exact text from the filing

On July 6, 2023, Investcorp Europe Acquisition Corp I (the “Company” or the “Borrower”) entered into a non-interest bearing unsecured loan (the “Loan”) in the principal amount of up to $1,700,000 from the Company’s sponsor, Europe Acquisition Holdings Limited

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Source: SEC EDGAR

accession 0001193125-23-184597

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