ASPAC I Acquisition Corp.: debt financing — ASPAC I Acquisition extends deadline to Apr 17 with $90k trust deposit; secures $500k sponsor note

ASPAC I Acquisition Corp.

Up to $500,000 unsecured promissory note from sponsor A SPAC (Holdings) Acquisition Corp.; convertible into warrants at $1.00 each.
Note bears no interest; proceeds to fund working capital and extension payments.
Deposited $90,000 into trust account to extend business combination deadline from Mar 17 to Apr 17, 2023.
Trust account balance after deposit approximately $37.68 million.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

ASPAC I Acquisition Corp. incurred loan of up to $500,000 with A SPAC (Holdings) Acquisition Corp. maturing promptly after the date on which the Company consummates a business combination.

Instrument: loan
Principal: up to $500,000
Counterparty: A SPAC (Holdings) Acquisition Corp.
Maturity: promptly after the date on which the Company consummates a business combination
Event: incurrence

Exact text from the filing

issued an unsecured promissory note in the aggregate principal amount of up to $500,000

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Source: SEC EDGAR

accession 0001213900-23-020619

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