Black Mountain Acquisition Corp.: debt financing — Black Mountain Acquisition extends business combination deadline to Nov 18, 2023

Black Mountain Acquisition Corp.

Sponsor deposited $160,000 into trust account for the fifth of six permitted one-month extensions.
New deadline for initial business combination is November 18, 2023 (previously October 18, 2023).
Loan is non-interest-bearing; repayable from trust proceeds upon business combination or convertible into warrants at $1.00 per warrant.
If no business combination, loan repaid only from funds held outside the trust account.

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 upon the earlier to occur of (i) the date on which the Company consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization o.

Instrument: loan
Principal: $160,000
Counterparty: Black Mountain Sponsor LLC
Rate: no interest
Maturity: upon the earlier to occur of (i) the date on which the Company consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization o
Event: incurrence

Exact text from the filing

On October 13, 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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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Black Mountain Acquisition Corp. entered into Promissory Note with Black Mountain Sponsor LLC valued at $160,000 principal amount, no interest, due upon earlier of business combination or liquidation (effective 2023-10-13).

Action: entry
Agreement: credit facility
Counterparty: Black Mountain Sponsor LLC
Value: $160,000 principal amount, no interest, due upon earlier of business combination or liquidation
Effective: 2023-10-13

Exact text from the filing

On October 13, 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).

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-256128

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