Black Mountain Acquisition Corp.: debt financing — BMAC extends business combination deadline to August 18, 2023; sponsor deposits $160k

Black Mountain Acquisition Corp.

Company extends deadline by one month from July 18 to August 18, 2023 (second of six possible one-month extensions).
Sponsor deposited $160,000 into trust account via non-interest-bearing loan; note issued.
Loan repayable from trust proceeds upon business combination, or convertible into warrants at $1.00 per warrant.
If no combination, loan repaid only from funds outside trust.

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 due and payable upon the earlier to occur of (i) the date on which the Company consummates an Initial Business Combination and (ii) the liquidation of the Compa.

Instrument: loan
Principal: $160,000
Counterparty: Black Mountain Sponsor LLC
Rate: no interest
Maturity: due and payable upon the earlier to occur of (i) the date on which the Company consummates an Initial Business Combination and (ii) the liquidation of the Compa
Event: incurrence

Exact text from the filing

On July 17, 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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Source: SEC EDGAR

accession 0001193125-23-188538

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