Leo Holdings Corp. II: debt financing — Leo Holdings Corp. II draws $240K for fifth one-month extension to Sept 12, 2023

Leo Holdings Corp. II

Drew $240,000 from sponsor promissory note; total drawn now $1.92M.
Extension moves business combination deadline from Aug 12 to Sept 12, 2023.
Note convertible up to $1.5M into warrants at $1.50/warrant, identical to private placement warrants.
Sixth and final one-month extension remains available under governing documents.

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 aggregate of $240,000 with Leo Investors II Limited Partnership at does not bear interest maturing closing of the Company’s initial business combination.

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

Exact text from the filing

On August 9, 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 0001193125-23-209708

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