Armada Acquisition Corp. I: debt financing — Armada Acquisition Corp. I draws $70,900 to extend business combination deadline to Nov 17, 2023

Armada Acquisition Corp. I

Board approved draw of $70,900.47 under promissory note with Armada Sponsor LLC.
Funds deposited into trust account to extend deadline from Oct 17 to Nov 17, 2023 (second of five one-month extensions).
Note is non-interest bearing, matures on business combination; up to $425,402.82 convertible at $10.00/share.
As of Oct 17, 2023, $212,701.41 was outstanding under the note.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Armada Acquisition Corp. I incurred loan of $70,900.47 with Armada Sponsor LLC maturing upon closing of the Company's initial business combination.

Instrument: loan
Principal: $70,900.47
Counterparty: Armada Sponsor LLC
Maturity: upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On October 11, 2023, the board of directors of Armada Acquisition Corp. I, a Delaware corporation (the " Company "), approved a draw of an aggregate of $70,900.47 (the " Extension Funds ") pursuant to the Promissory Note, dated as of August 2, 2023, between the Company and Armada Sponsor LLC (the " Note "), which Extension Funds were deposited into the Company’s trust account for its public stockholders on October 11, 2023.

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Source: SEC EDGAR

accession 0001193125-23-257780

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