secwatch.observer — SEC 8-K summary
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Issuer:     TortoiseEcofin Acquisition Corp. III (—)
CIK:        0001847112
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0001193125-23-295512
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847112/000119312523295512/0001193125-23-295512-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847112/000119312523295512/d570104d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-295512

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