Acri Capital Acquisition Corp: debt financing — Acri Capital extends business combination deadline to Sep 14, 2023 with $75K deposit

Acri Capital Acquisition Corp

Sponsor deposited $75,000 into trust to extend deadline from Aug 14 to Sep 14, 2023.
This is the second of nine permitted monthly extensions, allowing extension until April 14, 2024.
Company issued $75,000 unsecured promissory note to sponsor, convertible into warrants at $1.00 per warrant.
Note is non-interest bearing, payable upon business combination or liquidation.

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

Acri Capital Acquisition Corp incurred senior notes of $75,000 with Acri Capital Sponsor LLC at non-interest bearing maturing earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.

Instrument: senior notes
Principal: $75,000
Counterparty: Acri Capital Sponsor LLC
Rate: non-interest bearing
Maturity: earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company
Event: incurrence

Exact text from the filing

the Company issued an unsecured promissory note of $75,000 (the “ Note ”) to its sponsor, Acri Capital Sponsor LLC (the “ Sponsor ”).

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Source: SEC EDGAR

accession 0001213900-23-066079

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