Estrella Immunopharma, Inc. (ESLA): debt financing — TradeUP extends business combination deadline to Sept 19 with $37,432.70 deposit from Estrella

Estrella Immunopharma, Inc.

Extension fee of $37,432.70 ($0.05 per share) deposited into trust account to extend deadline to September 19, 2023.
Payment made by merger partner Estrella Biopharma under Merger Agreement; recorded as unsecured promissory note.
Note convertible into shares at $10/share if business combination closes; repayable if deal terminates.
Company retains ability to extend monthly through July 14, 2024.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

Estrella Immunopharma, Inc. incurred loan of $37,432.70 with Estrella Biopharma, Inc. at no interest maturing upon the consummation of the Company’s business combination.

Instrument: loan
Principal: $37,432.70
Counterparty: Estrella Biopharma, Inc.
Rate: no interest
Maturity: upon the consummation of the Company’s business combination
Event: incurrence

Exact text from the filing

Estrella has deposited a monthly extension payment of $37,432.70 to the trust account of the Company to extend the deadline for the Company to complete the business combination contemplated therein by September 19, 2023. Such deposit is evidenced by an unsecured promissory note in the principal amount of $37,432.70 issued by the Company to Estrella (the “Extension Note”).

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Estrella Immunopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-069046

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