OCA Acquisition Corp.: debt financing — OCA Acquisition draws $90k for third one-month extension to July 20, 2023

OCA Acquisition Corp.

Drew $90,000 under promissory note to extend business combination deadline from June 20, 2023 to July 20, 2023.
This is the third of nine permitted one-month extensions under the company's amended charter.
Note is non-interest bearing, matures upon business combination; up to $1,080,000 convertible into warrants at $1.00 per warrant.
As of June 20, 2023, $540,000 was outstanding under the note; lender is OCA Acquisition Holdings LLC.

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

OCA Acquisition Corp. incurred loan of $90,000 with OCA Acquisition Holdings LLC at does not bear interest maturing upon closing of the Company's initial business combination.

Instrument: loan
Principal: $90,000
Counterparty: OCA Acquisition Holdings LLC
Rate: does not bear interest
Maturity: upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

Arrangement or a Registrant. On June 15, 2023, the board of directors of OCA Acquisition Corp., a Delaware corporation (the “ Company ”), approved a draw of an aggregate of $90,000 (the “ Extension Funds ”) pursuant to the Promissory Note, dated as of January 19, 2023, between the Company and OCA Acquisition Holdings LLC (the “ Note ”), which Extension Funds

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Source: SEC EDGAR

accession 0001213900-23-050079

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