Redwoods Acquisition Corp. enters $120K promissory note with sponsor, convertible at $10/share

Greenland Mines Ltd

Unsecured, non-interest bearing note issued to Redwoods Capital LLC for up to $120,000.
Principal due upon closing of initial business combination (DeSPAC) or liquidation.
Sponsor may convert unpaid principal into common shares at $10.00/share upon a DeSPAC.
Note includes trust waiver; no recourse to IPO trust account for repayment.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Greenland Mines Ltd entered into Note with Redwoods Capital LLC valued at $120,000 (effective 2023-09-23).

Action: entry
Agreement: notes offering
Counterparty: Redwoods Capital LLC
Value: $120,000
Effective: 2023-09-23

Exact text from the filing

On September 23, 2023, Redwoods Acquisition Corp. (“RWOD”) issued an unsecured, non-interest bearing promissory note in the principal amount of $120,000 (the “ Note ”) to Redwoods Capital LLC, RWOD’s sponsor.

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Source: SEC EDGAR

accession 0001213900-23-079137

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