Invest Acquisition Corp: debt financing — Investcorp Europe Acquisition Corp I enters up to $500K sponsor loan to extend deadline to Dec 17

Invest Acquisition Corp

Loan of up to $500,000 from sponsor affiliate Investcorp Funding Limited, non-interest bearing.
Funds used for working capital and monthly trust contributions to extend deadline to December 17, 2023.
Loan due on earlier of business combination closing or winding up; if no deal by Dec 17, repaid only from non-trust funds or forfeited.
Trust waiver: lender waives any claim against trust account, but loan repaid from trust proceeds upon business combination.

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

Invest Acquisition Corp incurred loan of up to $500,000 with Europe Acquisition Holdings Limited at non-interest bearing maturing earlier of (i) the date on which the Borrower consummates the business combination or (ii) the date of that the winding up of the Borrower is effective.

Instrument: loan
Principal: up to $500,000
Counterparty: Europe Acquisition Holdings Limited
Rate: non-interest bearing
Maturity: earlier of (i) the date on which the Borrower consummates the business combination or (ii) the date of that the winding up of the Borrower is effective
Event: incurrence

Exact text from the filing

On November 15, 2023, Investcorp Europe Acquisition Corp I (the “Company”) entered into a non-interest bearing unsecured loan (the “Loan”) in the principal amount of up to $500,000 from the Company’s sponsor, Europe Acquisition Holdings Limited, an exempted company incorporated in the Cayman Islands, or an affiliate thereof (the “Sponsor”) to provide the Company with additional working capital and to fund monthly contributions into the trust account until the earlier of a completion of a business combination or December 17, 2023 (the “Extended Date”).

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Source: SEC EDGAR

accession 0001193125-23-278088

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