ALPHA MODUS HOLDINGS, INC. (AMOD): debt financing — Insight Acquisition Corp. issues $480K promissory note to sponsor to fund six-month extension

ALPHA MODUS HOLDINGS, INC.

Note of $480K issued to sponsor for six one-month extensions of business combination deadline and working capital.
Note is unsecured, non-interest bearing, matures upon closing of initial business combination.
Holder may elect repayment via private placement warrants at $1.00 per warrant.
Principal will be forgiven if no business combination by June 7, 2024, except funds held outside trust.
Sponsor waives all claims against the trust account.

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

ALPHA MODUS HOLDINGS, INC. incurred loan of $180,000 with Insight Acquisition Sponsor, LLC at does not bear interest maturing upon the closing of an initial business combination by the Company.

Instrument: loan
Principal: $180,000
Counterparty: Insight Acquisition Sponsor, LLC
Rate: does not bear interest
Maturity: upon the closing of an initial business combination by the Company
Event: incurrence

Exact text from the filing

On August 17, 2023, Insight Acquisition Corp. (the "Company") issued an unsecured promissory note in the aggregate principal amount of $180,000 (the "Note") to Insight Acquisition Sponsor, LLC, the Company's sponsor ("Sponsor"), in exchange for the Sponsor advancing $480,000 to the Company

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ALPHA MODUS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-068643

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