Embrace Change Acquisition Corp. (EMCGF): debt financing — Embrace Change Acquisition extends deadline to Oct 12, 2023 with $1M deposit and $10K note to sponsor

Embrace Change Acquisition Corp.

Sponsor deposits $1M total into trust to extend business combination deadline by one month from Sep 12 to Oct 12, 2023.
Company issues $10,000 unsecured promissory note to sponsor, convertible into units at $10 per unit upon business combination.
Note is non-interest bearing, repayable upon consummation of business combination.
Conversion would result in up to 1,000 private placement units.

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

Embrace Change Acquisition Corp. incurred loan of $10,000 with Wuren Fubao Inc., the Company’s sponsor at bears no interest maturing upon the consummation of the Company’s business combination.

Instrument: loan
Principal: $10,000
Counterparty: Wuren Fubao Inc., the Company’s sponsor
Rate: bears no interest
Maturity: upon the consummation of the Company’s business combination
Event: incurrence

Exact text from the filing

On September 8, 2023, the Company issued an unsecured promissory note (the “Extension Fee Note”), effective as of September 8, 2023, in an amount of $10,000 to the Sponsor.

View on SEC.gov

Browse all debt financings →

Embrace Change Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-232450

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.