---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-295512"
form_type: "8-K"
ticker: null
cik: "0001847112"
company_name: "TortoiseEcofin Acquisition Corp. III"
filed_at: "2023-12-14T23:59:59+00:00"
generated_at: "2026-06-07T13:04:04.514191+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# TortoiseEcofin SPAC secures $1M loan for extension and working capital ahead of One Energy deal

## Summary
- Lenders provide $1.0M aggregate loan to sponsor; sponsor lends same amount to SPAC for extension fees and working capital.
- Loan is non-interest bearing; principal due within 5 business days of closing the business combination with One Energy.
- Sponsor to transfer 499,500 Class B ordinary shares to lenders upon closing as additional consideration.
- One Energy to pay lenders $499,500 cash within 5 business days of closing.
- If business combination fails, lenders may receive One Energy common stock at latest private valuation; put option at 1.05x principal if stock not listed by Dec 31, 2026.

## SEC filing metadata
- accession: 0001193125-23-295512
- form_type: 8-K
- cik: 0001847112
- company_name: TortoiseEcofin Acquisition Corp. III
- filed_at: 2023-12-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847112/000119312523295512/0001193125-23-295512-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847112/000119312523295512/d570104d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-295512
- JSON: https://secwatch.observer/filing/0001193125-23-295512.json
- Plain text: https://secwatch.observer/filing/0001193125-23-295512.txt

## Key facts
- Debt Financings
  TortoiseEcofin Acquisition Corp. III incurred loan of $1.0 million with One Energy Enterprises Inc. and other Lenders at will not accrue any interest maturing within five business days of the completion of the Company's initial business combination with One Energy.
  - Instrument: loan
  - Principal: $1.0 million
  - Counterparty: One Energy Enterprises Inc. and other Lenders
  - Rate: will not accrue any interest
  - Maturity: within five business days of the completion of the Company's initial business combination with One Energy
  - Event: incurrence
  source text: sponsor (the “ Sponsor ”), One Energy Enterprises Inc. (“ One Energy ”) and other parties (the “ Lenders ”), pursuant to which the Lenders agreed to loan an aggregate of $1.0 million to the Sponsor (the “ Loan ”) and the Sponsor intends to loan such amount to the Company (the “ SPAC Loan ”). Neither the Loan nor the SPAC Loan will accrue any interest. The
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847112/000119312523295512/0001193125-23-295512-index.htm
- Material Agreements
  TortoiseEcofin Acquisition Corp. III entered into Loan and Transfer Agreements with One Energy Enterprises Inc. valued at Loan of $1.0 million (effective 2023-12-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: One Energy Enterprises Inc.
  - Value: Loan of $1.0 million
  - Effective: 2023-12-10
  source text: On December 10, 2023, TortoiseEcofin Acquisition Corp. III (the “ Company ”) entered into Loan and Transfer Agreements between the Company, TortoiseEcofin Sponsor III LLC, the Company’s sponsor (the “ Sponsor ”), One Energy Enterprises Inc. (“ One Energy ”) and other parties (the “ Lenders ”), pursuant to which the Lenders agreed to loan an aggregate of $1.0 million to the Sponsor (the “ Loan ”) and the Sponsor intends to loan such amount to the Company (the “ SPAC Loan ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847112/000119312523295512/0001193125-23-295512-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.