Invest Acquisition Corp: debt financing — SPAC sponsor provides up to $1.25M loan and up to $900k trust contributions to extend deadline to June 2024

Invest Acquisition Corp

Non-interest convertible unsecured loan of up to $1,250,000 from sponsor for working capital and trust contributions.
Sponsor will contribute up to $900k to trust account ($150k/month for up to 6 months) if extension approved.
Extraordinary general meeting on Dec 5, 2023 to vote on extending business combination deadline from Dec 17, 2023 to June 17, 2024.
Trust account securities to be converted to cash to mitigate risk of being viewed as an unregistered investment company.
Loan repayable upon business combination or liquidation; no recourse against trust account.

item 2.03 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

Invest Acquisition Corp incurred loan of $1,250,000 with Europe Acquisition Holdings Limited at non-interest bearing.

Instrument: loan
Principal: $1,250,000
Counterparty: Europe Acquisition Holdings Limited
Rate: non-interest bearing
Event: incurrence

Exact text from the filing

On November 27, 2023, Investcorp Europe Acquisition Corp I (the "Company") entered into a non-interest bearing convertible unsecured loan (the "Loan") in the principal amount of up to $1,250,000 from the Company’s sponsor, Europe Acquisition Holdings Limited

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Source: SEC EDGAR

accession 0001193125-23-283357

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