---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-027394"
form_type: "8-K"
ticker: null
cik: "0001822912"
company_name: "26 Capital Acquisition Corp."
filed_at: "2023-04-05T23:59:59+00:00"
generated_at: "2026-06-17T05:58:31.393409+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# 26 Capital Acquisition Corp. issues $2.5M convertible note to sponsor for merger expenses

## Summary
- Borrowed full $2.5M on March 31, 2023 from sponsor 26 Capital Holdings LLC.
- Note is unsecured, non-interest bearing, convertible at $2.50/share into Class A common stock, subject to shareholder approval.
- Conversion capped at 2M shares aggregate across this and prior notes; note matures upon merger closing or winding up.
- Proceeds used for fees, expenses, and general corporate purposes related to the pending Okada Manila merger.

## SEC filing metadata
- accession: 0001213900-23-027394
- form_type: 8-K
- cik: 0001822912
- company_name: 26 Capital Acquisition Corp.
- filed_at: 2023-04-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822912/000121390023027394/0001213900-23-027394-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822912/000121390023027394/ea176467-8k425_26capital.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-027394
- JSON: https://secwatch.observer/filing/0001213900-23-027394.json
- Plain text: https://secwatch.observer/filing/0001213900-23-027394.txt

## Key facts
- Debt Financings
  26 Capital Acquisition Corp. incurred convertible notes of an aggregate maximum amount of $2,500,000 with 26 Capital Holdings LLC (the Sponsor) at does not bear interest maturing upon the earlier of (a) the satisfaction of all conditions set forth in Article 7 of that certain Agreement and Plan of Merger and Share Acquisition... (the Pre.
  - Instrument: convertible notes
  - Principal: an aggregate maximum amount of $2,500,000
  - Counterparty: 26 Capital Holdings LLC (the Sponsor)
  - Rate: does not bear interest
  - Maturity: upon the earlier of (a) the satisfaction of all conditions set forth in Article 7 of that certain Agreement and Plan of Merger and Share Acquisition... (the Pre
  - Event: incurrence
  source text: On March 30, 2023, 26 Capital Acquisition Corp. (the “Company”) issued an unsecured convertible promissory note (the “Convertible Note”) to 26 Capital Holdings LLC (the “Sponsor”), pursuant to which the Company may borrow up to an aggregate maximum amount of $2,500,000 from the Sponsor to pay fees and expenses and for other general corporate purposes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822912/000121390023027394/0001213900-23-027394-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.