Redwoods Acquisition Corp. issues $150,000 promissory note to sponsor for working capital

Greenland Mines Ltd

Issued $150,000 unsecured, non-interest bearing promissory note to sponsor Redwoods Capital LLC.
Maturity upon closing of a business combination or liquidation; may be repaid in cash or converted into units at $10.00 per unit.
Payee waived claims against trust account; note is convertible into units identical to private placement units.
Principal can be drawn down in increments of $10,000 or more, up to $150,000 total.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Greenland Mines Ltd entered into Unsecured, Non-Interest Bearing Promissory Note with Redwoods Capital LLC valued at $150,000 (effective 2023-03-22).

Action: entry
Agreement: notes offering
Counterparty: Redwoods Capital LLC
Value: $150,000
Effective: 2023-03-22

Exact text from the filing

On March 22, 2023, Redwoods Acquisition Corp. (the “ Company ”) issued an unsecured, non-interest bearing promissory note in the principal amount of $150,000 (the “ Note ”) to Redwoods Capital LLC, the Company’s sponsor.

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Source: SEC EDGAR

accession 0001213900-23-023368

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