Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
26 Capital Acquisition Corp. incurred convertible notes of $4,000,000 with 26 Capital Holdings LLC at does not bear interest maturing the earlier of (a) the Pre-Closing Satisfaction Date and (b) the date that the winding up of the Company is effective.
- Instrument
- convertible notes
- Principal
- $4,000,000
- Counterparty
- 26 Capital Holdings LLC
- Rate
- does not bear interest
- Maturity
- the earlier of (a) the Pre-Closing Satisfaction Date and (b) the date that the winding up of the Company is effective
- Event
- incurrence
Exact text from the filing
On April 28, 2023, the Company borrowed the full $4,000,000 available to it under the Convertible Note.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
26 Capital Acquisition Corp. entered into Unsecured Convertible Promissory Note with 26 Capital Holdings LLC valued at $4,000,000 (effective 2023-04-28).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- 26 Capital Holdings LLC
- Value
- $4,000,000
- Effective
- 2023-04-28
Exact text from the filing
On April 28, 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 $4,000,000 from the Sponsor to pay fees and expenses and for other general corporate purposes.
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