secwatch.observer — SEC 8-K summary
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Issuer:     TortoiseEcofin Acquisition Corp. III (—)
CIK:        0001847112
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001193125-24-118484
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TortoiseEcofin raises $750K for monthly extensions through Oct 22, 2024
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- Aggregate $350K loan from four lenders and $400K subscription from investor to sponsor, to fund trust account payments and working capital.
- Sponsor to loan funds to SPAC; loans non-interest bearing; repayment at DeSPAC closing with additional cash payments and share transfers.
- Sponsor to transfer 175,000 Class B shares to lenders; investor to receive 200,000 Pubco shares.
- If business combination fails, lenders/investor get One Energy common shares at private valuation, with redemption option at 1.05x by Dec 31, 2026.
- One Energy reaffirms responsibility for all extension payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847112/000119312524118484/0001193125-24-118484-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847112/000119312524118484/d792439d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-118484

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