Aimfinity Investment Corp. I: debt financing — Aimfinity Investment Corp. I extends SPAC deadline to October 28, 2023 with $85,000 trust deposit

Aimfinity Investment Corp. I

Sponsor designee I-Fa Chang deposited $85,000 into trust to fund the third monthly extension.
Deadline for initial business combination extended from September 28 to October 28, 2023.
Unsecured promissory note issued for $85,000; bears no interest, convertible into private units at $10/unit.
Note payable upon completion of business combination or expiry; this is the third of up to nine monthly extensions.
Extensions allowed through April 28, 2024 under Charter amended July 27, 2023.

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

Aimfinity Investment Corp. I incurred loan of $85,000 with I-Fa Chang at no interest maturing upon the earlier to occur of (i) the consummation of the Company's business combination or (ii) the date of expiry of the term of the Company.

Instrument: loan
Principal: $85,000
Counterparty: I-Fa Chang
Rate: no interest
Maturity: upon the earlier to occur of (i) the consummation of the Company's business combination or (ii) the date of expiry of the term of the Company
Event: incurrence

Exact text from the filing

In connection with the Third Monthly Extension Payment, the Company issued an unsecured promissory note of $85,000 (the “ Note ”) to I-Fa Chang, sole member and manager of Aimfinity Investment LLC, the sponsor of the company (the “ Sponsor ”), as the Sponsor’s designee, to evidence the payments made for the Third Extension Payment.

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Source: SEC EDGAR

accession 0001213900-23-080577

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