Cactus Acquisition Corp. 1 Ltd: debt financing — Cactus Acquisition Corp. 1 obtains up to $600K promissory note from Energi Holding

Cactus Acquisition Corp. 1 Ltd

Unsecured note with principal up to $600,000; full amount advanced on March 25, 2024.
Note bears no interest but fees totaling 9% per annum payable on maturity.
Maturity date is earlier of Nov 1, 2024, business combination, or liquidation.
As inducement, EVGI Limited to transfer 600,000 Class A ordinary shares to lender.
Loan used for working capital and operations; trust account claims waived.

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

Cactus Acquisition Corp. 1 Ltd incurred loan of $600,000 with Energi Holding Limited at 9.0% per annum maturing November 1, 2024.

Instrument: loan
Principal: $600,000
Counterparty: Energi Holding Limited
Rate: 9.0% per annum
Maturity: November 1, 2024
Event: incurrence

Exact text from the filing

On March 25, 2024, the Company issued an unsecured promissory note to Energi Holding Limited (the “ Lender ”) with a principal amount up to $600,000 (the “ Note ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cactus Acquisition Corp. 1 Ltd entered into Promissory Note with Energi Holding Limited valued at $600,000 (effective 2024-03-25).

Action: entry
Agreement: credit facility
Counterparty: Energi Holding Limited
Value: $600,000
Effective: 2024-03-25

Exact text from the filing

On March 25, 2024, the Company issued an unsecured promissory note to Energi Holding Limited (the " Lender ") with a principal amount up to $600,000 (the " Note ").

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Source: SEC EDGAR

accession 0001193125-24-080263

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