--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-23-061943" form_type: "8-K" ticker: "EMAT" cik: "0001866226" company_name: "Evolution Metals & Technologies Corp." filed_at: "2023-08-01T23:59:59+00:00" generated_at: "2026-06-12T19:12:28.758268+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.55 calibrated_materiality_score: 0.55 confidence: "high" source: SEC EDGAR --- # Welsbach SPAC extends deadline to Aug 30, sponsor provides $125K extension note ## Summary - Extension to Aug 30, 2023 via $125K unsecured note from sponsor, convertible into units at $10/unit. - Sponsor also made $84K working capital loan to replenish restricted cash used for vendor payments. - Restricted cash deficiency of $142,850.59 as of June 30; now fully replenished to $213,182. - Backstop agreement with affiliate guarantees any restricted cash shortfall by Sep 30, 2023. - Sponsor/company promissory note fully repaid; all obligations extinguished. ## SEC filing metadata - accession: 0001213900-23-061943 - form_type: 8-K - ticker: EMAT - cik: 0001866226 - company_name: Evolution Metals & Technologies Corp. - filed_at: 2023-08-01T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.55 - calibrated_materiality_score: 0.55 - confidence: high - sec_items: 1.01, 2.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1866226/000121390023061943/0001213900-23-061943-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866226/000121390023061943/ea182683-8k_welsbachtech.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-23-061943 - JSON: https://secwatch.observer/filing/0001213900-23-061943.json - Plain text: https://secwatch.observer/filing/0001213900-23-061943.txt ## Key facts - Debt Financings Evolution Metals & Technologies Corp. incurred convertible notes of $84,000 with Welsbach Acquisition Holdings LLC (the Sponsor) at non-interest bearing maturing payable upon consummation of the Initial Business Combination or convertible into units. - Instrument: convertible notes - Principal: $84,000 - Counterparty: Welsbach Acquisition Holdings LLC (the Sponsor) - Rate: non-interest bearing - Maturity: payable upon consummation of the Initial Business Combination or convertible into units - Event: incurrence source text: On July 30, 2023, the Company issued a promissory note (the “ Working Capital Note ”) in the principal amount of $84,000 to the Sponsor in exchange for cash. The Working Capital Note is a non-interest bearing, unsecured promissory note that will not be repaid in the event that the Company is unable to close an Initial Business Combination unless there are funds available outside the trust account to do so. Such Working Capital Note would either be paid upon consummation of the Initial Business Combination out of the proceeds of the Trust Account released to the Company or, at the Sponsor’s discretion, converted, in full or in part, upon consummation of the Initial Business Combination into additional private units at a price of $10.00 per unit. evidence_url: https://www.sec.gov/Archives/edgar/data/1866226/000121390023061943/0001213900-23-061943-index.htm - Debt Financings Evolution Metals & Technologies Corp. incurred convertible notes of Extension Payment with Welsbach Acquisition Holdings LLC (the Sponsor) at non-interest bearing maturing repayable upon closing of a business combination. - Instrument: convertible notes - Principal: Extension Payment - Counterparty: Welsbach Acquisition Holdings LLC (the Sponsor) - Rate: non-interest bearing - Maturity: repayable upon closing of a business combination - Event: incurrence source text: upon the deposit by Welsbach Acquisition Holdings LLC (the “ Sponsor ”) or their affiliate or designee, into the trust account of $125,000 for each additional one month extension (the “ Extension Payment ”) in exchange for a non-interest bearing, unsecured promissory note, convertible at the option of the holder, in full or in part, into units at a price of $10.00 per unit, which units will be identical to the private placement units issued in connection with the initial public offering of the Company’s units and repayable upon closing of a business combination (the “ Extension Note ”). On July 30, 2023 the Company issued an Extension Note to the Sponsor in respect of an Extension Payment. evidence_url: https://www.sec.gov/Archives/edgar/data/1866226/000121390023061943/0001213900-23-061943-index.htm - Material Agreements Evolution Metals & Technologies Corp. entered into Extension Note with Welsbach Acquisition Holdings LLC valued at up to $125,000 per month for up to six months, non-interest bearing, unsecured, convertible at $10.0 (effective 2023-07-30). - Action: entry - Agreement: notes offering - Counterparty: Welsbach Acquisition Holdings LLC - Value: up to $125,000 per month for up to six months, non-interest bearing, unsecured, convertible at $10.0 - Effective: 2023-07-30 source text: o up to September 30, 2023, upon the deposit by Welsbach Acquisition Holdings LLC (the “ Sponsor ”) or their affiliate or designee, into the trust account of $125,000 for each additional one month extension (the “ Extension Payment ”) in evidence_url: https://www.sec.gov/Archives/edgar/data/1866226/000121390023061943/0001213900-23-061943-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.