Lakeshore Acquisition II Corp.: debt financing — Lakeshore extends business combination deadline to Oct 11 via $80K note from Nature's Miracle

Lakeshore Acquisition II Corp.

Issued $80,000 unsecured, non-interest-bearing promissory note to Nature's Miracle to fund one-month extension of business combination deadline.
Note matures upon earlier of deal closing or December 11, 2023; repayment only from funds outside trust if no business combination.
As consideration, Lakeshore will cause 2,000 shares of PubCo Class A common stock to be issued to Nature's Miracle upon closing.
Company may extend further up to December 11, 2023 by depositing additional $80,000 per month into trust.

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

Lakeshore Acquisition II Corp. incurred loan of $80,000 with Nature’s Miracle at does not bear interest maturing upon the earlier of (i) the closing of the Company’s initial business combination and (ii) December 11, 2023.

Instrument: loan
Principal: $80,000
Counterparty: Nature’s Miracle
Rate: does not bear interest
Maturity: upon the earlier of (i) the closing of the Company’s initial business combination and (ii) December 11, 2023
Event: incurrence

Exact text from the filing

On September 11, 2023, Lakeshore Acquisition II Corp., a Cayman Islands exempted company (the “Company” or “Lakeshore”) issued an unsecured promissory note dated September 11, 2023, in the aggregate principal amount of $80,000 (the “Note”) to Nature’s Miracle

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Source: SEC EDGAR

accession 0001213900-23-075785

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