debt
confidence high
sentiment neutral
materiality 0.25
Bull Horn Holdings enters up to $500K working capital note with sponsor
Z Squared Inc.
- Up to $500,000 promissory note issued to sponsor Bull Horn Holdings Sponsor LLC for working capital; no interest.
- Principal repayable at business combination or winding up; trust account proceeds can be used only after a deal closes.
- Sponsor may convert unpaid principal into warrants at $1.00 per warrant, identical to IPO private placement warrants.
- Drawdowns in $10,000 increments, maximum $500,000; no prepayment penalty.