Investcorp AI Acquisition Corp.: debt financing — Investcorp AI amends convertible note with sponsor for up to $3M working capital

Investcorp AI Acquisition Corp.

Sponsor ICE I Holdings loans up to $3.0M under amended convertible promissory note.
Loan is non-interest bearing, repayable upon business combination or May 12, 2025.
Up to $3M may be converted into warrants at $1.00 per warrant; warrants identical to private placement warrants.
Warrants exercisable for Class A ordinary shares at $11.50 per share, non-redeemable while held by sponsor.
Proceeds for working capital; note amends prior December 2023 convertible note.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Investcorp AI Acquisition Corp. amended convertible notes of up to $3.0 million with ICE I Holdings Pte. Ltd. at will not bear any interest maturing upon the later date of the consummation of the Company's initial business combination or May 12, 2025.

Instrument: convertible notes
Principal: up to $3.0 million
Counterparty: ICE I Holdings Pte. Ltd.
Rate: will not bear any interest
Maturity: upon the later date of the consummation of the Company's initial business combination or May 12, 2025
Event: amendment

Exact text from the filing

On March 28, 2025, Investcorp AI Acquisition Corp. (the " Company ") amended and restated its Convertible Promissory Note (the " Amended and Restated Working Capital Loan ") with its sponsor, ICE I Holdings Pte. Ltd. (the " Sponsor "). Pursuant to the Amended and Restated Working Capital Loan, the Sponsor has agreed to loan the Company up to $3.0 million to be used for working capital purposes.

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Source: SEC EDGAR

accession 0001193125-25-067359

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