Leo Holdings Corp. II: debt financing — Leo Holdings Corp. II extends business combination deadline to August 12, 2023 with $240k draw on promissory note

Leo Holdings Corp. II

Drew $240,000 from Leo Investors II to fund trust extension, extending deadline from July 12 to August 12, 2023.
This is the fourth of six possible one-month extensions under governing documents.
Note principal outstanding rises to $1,680,000; no interest, matures upon business combination closing.
Up to $1,500,000 of note principal convertible into warrants at $1.50 per warrant, identical to existing 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 at does not bear interest maturing matures upon closing of the Company's initial business combination.

Instrument: loan
Principal: $240,000
Counterparty: Leo Investors II Limited Partnership
Rate: does not bear interest
Maturity: matures upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On July 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”), which Extension Funds the Company deposited into the Company’s trust account for its public shareholders.

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Source: SEC EDGAR

accession 0001193125-23-185935

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