Maquia Capital Acquisition Corp: debt financing — Maquia Capital Enters Working Capital and Extension Notes with Sponsor

Maquia Capital Acquisition Corp

Issued $250,000 working capital note to Maquia Investments North America on May 22, 2023, due at business combination or liquidation.
Issued up to $245,411.55 extension note to sponsor, with first $27,267.95 deposited into trust on May 15, 2023.
Stockholders approved charter amendment extending initial business combination deadline from May 7, 2023 to February 7, 2024.
Extension note requires monthly deposits of $27,267.95 into trust account for unredeemed public stockholders.
Both notes are interest-free and repayable upon consummation of business combination or liquidation of the company.

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

Maquia Capital Acquisition Corp incurred loan of up to $245,411.55 with Maquia Investments North America, LLC at no interest maturing upon the date of the consummation of the Initial Business Combination or the liquidation of the Company.

Instrument: loan
Principal: up to $245,411.55
Counterparty: Maquia Investments North America, LLC
Rate: no interest
Maturity: upon the date of the consummation of the Initial Business Combination or the liquidation of the Company
Event: incurrence

Exact text from the filing

on May 22, 2023, the Company issued a promissory note (the “ Extension Note ”) in the aggregate principal amount of up to $245,411.55 to the Sponsor

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Maquia Capital Acquisition Corp incurred loan of $250,000 with Maquia Investments North America, LLC at no interest maturing upon the earlier to occur of (i) the date on which the Company’s initial business combination is consummated and (ii) the liquidation of the Company.

Instrument: loan
Principal: $250,000
Counterparty: Maquia Investments North America, LLC
Rate: no interest
Maturity: upon the earlier to occur of (i) the date on which the Company’s initial business combination is consummated and (ii) the liquidation of the Company
Event: incurrence

Exact text from the filing

On May 22, 2023, Maquia Capital Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Working Capital Note ”) in the principal amount of $250,000 to Maquia Investments North America, LLC (the “ Sponsor ”) to fund the Company’s ongoing working capital needs.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Maquia Capital Acquisition Corp entered into Working Capital Note with Maquia Investments North America, LLC valued at $250,000 (effective 2023-05-22).

Action: entry
Agreement: credit facility
Counterparty: Maquia Investments North America, LLC
Value: $250,000
Effective: 2023-05-22

Exact text from the filing

On May 22, 2023, Maquia Capital Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Working Capital Note ”) in the principal amount of $250,000 to Maquia Investments North America, LLC

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Maquia Capital Acquisition Corp entered into Extension Note with Maquia Investments North America, LLC valued at up to $245,411.55 (effective 2023-05-22).

Action: entry
Agreement: credit facility
Counterparty: Maquia Investments North America, LLC
Value: up to $245,411.55
Effective: 2023-05-22

Exact text from the filing

on May 22, 2023, the Company issued a promissory note (the “ Extension Note ”) in the aggregate principal amount of up to $245,411.55 to the Sponsor

View on SEC.gov

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Source: SEC EDGAR

accession 0001213900-23-042861

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