Maquia Capital Acquisition Corp: debt financing — Maquia Capital receives up to $150K working capital note from sponsor

Maquia Capital Acquisition Corp

Issued $150,000 promissory note to Sponsor Maquia Investments North America, LLC for working capital.
Note bears no interest, due upon consummation of initial business combination or liquidation.
Drawdowns can be requested until business combination or liquidation; max drawdown $150,000.
Payee waived claims against trust account except for funds released after redemptions.

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 $150,000 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: up to $150,000
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 August 2, 2023, Maquia Capital Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Working Capital Note ”) in the principal amount of up to $150,000 to Maquia Investments North America, LLC (the “ Sponsor ”) to fund the Company’s ongoing working capital needs.

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Source: SEC EDGAR

accession 0001213900-23-064581

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