Trump Media & Technology Group Corp. (DJT): debt financing — DWAC issues $500K promissory note for legal costs related to TMTG business combination

Trump Media & Technology Group Corp.

Promissory note of $500,000 issued to an accredited investor for legal costs related to the pending business combination with Trump Media & Technology Group.
Note bears no interest and is payable in full upon consummation of the business combination.
Principal may convert into units (one Class A share + half warrant) at $10 per unit, subject to stockholder and institutional investor approvals.
Conversion units are identical to those issued to ARC Global Investments II LLC in the IPO private placement.

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

Trump Media & Technology Group Corp. incurred loan of $500,000.00 with certain accredited investor at no interest maturing payable in full upon consummation of the Business Combination.

Instrument: loan
Principal: $500,000.00
Counterparty: certain accredited investor
Rate: no interest
Maturity: payable in full upon consummation of the Business Combination
Event: incurrence

Exact text from the filing

On November 20, 2022, Digital World Acquisition Corp., a Delaware corporation (the “ Company ”) issued a promissory note (the “ Note ”) to a certain accredited investor (the “ Holder ”) in the aggregate principal amount of $500,000.00.

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Source: SEC EDGAR

accession 0001193125-23-282255

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