---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-035256"
form_type: "8-K"
ticker: null
cik: "0001822912"
company_name: "26 Capital Acquisition Corp."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:47:19.720261+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 $4M convertible note to sponsor; full amount drawn

## Summary
- Issued $4M unsecured convertible promissory note to 26 Capital Holdings LLC (sponsor).
- Full $4M borrowed immediately on April 28, 2023 for fees, expenses, and general corporate purposes.
- Note converts into Class A common stock upon shareholder approval at 30-day avg closing price before merger close.
- Proceeds support costs related to pending merger with Tiger Resort Asia Ltd. (Okada Manila).
- Note non-interest bearing; matures at pre-closing satisfaction of merger conditions or company wind-up.

## SEC filing metadata
- accession: 0001213900-23-035256
- form_type: 8-K
- cik: 0001822912
- company_name: 26 Capital Acquisition Corp.
- filed_at: 2023-05-02T23:59:59+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/1822912/000121390023035256/0001213900-23-035256-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822912/000121390023035256/ea177854-8k425_26capital.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-035256
- JSON: https://secwatch.observer/filing/0001213900-23-035256.json
- Plain text: https://secwatch.observer/filing/0001213900-23-035256.txt

## Key facts
- Debt Financings
  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
  source text: On April 28, 2023, the Company borrowed the full $4,000,000 available to it under the Convertible Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822912/000121390023035256/0001213900-23-035256-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822912/000121390023035256/0001213900-23-035256-index.htm

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