INTEGRATED RAIL & RESOURCES ACQUISITION CORP: debt financing — Integrated Rail & Resources Acquisition Corp. issues $17,935 promissory note to fund business combination costs

INTEGRATED RAIL & RESOURCES ACQUISITION CORP

Promissory note issued to DHIP Group, LLC for up to $17,935; no interest accrues.
Principal due earlier of Feb 15, 2024 (or extension approved by stockholders) or consummation of initial business combination.
Drawdowns available in increments of at least $10,000 until the earlier of the maturity date or business combination.
Lender waives any claim against the trust account established in connection with the IPO.

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

INTEGRATED RAIL & RESOURCES ACQUISITION CORP incurred loan of up to an aggregate principal amount of $17,935 with DHIP Group, LLC maturing on the earlier of (i) February 15, 2024 ... and (ii) the date on which the Company consummates the Business Combination.

Instrument: loan
Principal: up to an aggregate principal amount of $17,935
Counterparty: DHIP Group, LLC
Maturity: on the earlier of (i) February 15, 2024 ... and (ii) the date on which the Company consummates the Business Combination
Event: incurrence

Exact text from the filing

the Company is entitled to borrow up to an aggregate principal amount of $17,935

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INTEGRATED RAIL & RESOURCES ACQUISITION CORP entered into Promissory Note with DHIP Group, LLC valued at $17,935 (effective 2023-09-14).

Action: entry
Agreement: credit facility
Counterparty: DHIP Group, LLC
Value: $17,935
Effective: 2023-09-14

Exact text from the filing

On September 14, 2023, Integrated Rail and Resources Acquisition Corp. (the “ Company ”) issued an unsecured promissory note (the “ Promissory Note ”) to DHIP Group, LLC, a Delaware limited liability company (the “ Lender ”), pursuant to which the Company is entitled to borrow up to an aggregate principal amount of $17,935 from the Lender in order to fund costs reasonably related to an initial business combination

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Source: SEC EDGAR

accession 0001193125-23-235371

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