Evolution Metals & Technologies Corp. (EMAT): debt financing — Welsbach Tech Metals SPAC issues $50K working capital note to sponsor

Evolution Metals & Technologies Corp.

Non-interest bearing, unsecured promissory note for $50,000 issued to Sponsor Welsbach Acquisition Holdings LLC.
Note repaid only if business combination closes or converted into private units at $10.00 per unit at Sponsor's discretion.
Additional working capital notes may be funded up to $1.5 million total at Sponsor's discretion.
Units issued upon conversion will be registrable under existing registration rights agreement.

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

Evolution Metals & Technologies Corp. incurred loan of $50,000 with Welsbach Acquisition Holdings LLC at non-interest bearing.

Instrument: loan
Principal: $50,000
Counterparty: Welsbach Acquisition Holdings LLC
Rate: non-interest bearing
Event: incurrence

Exact text from the filing

issued a promissory note (the “Working Capital Note”) in the principal amount of $50,000 to Welsbach Acquisition Holdings LLC (the “Sponsor”) in exchange for cash. The Working Capital Note is a non-interest bearing, unsecured promissory note

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

Evolution Metals & Technologies Corp. entered into Working Capital Note with Welsbach Acquisition Holdings LLC valued at $50,000 (effective 2023-11-10).

Action: entry
Counterparty: Welsbach Acquisition Holdings LLC
Value: $50,000
Effective: 2023-11-10

Exact text from the filing

On November 10, 2023, Welsbach Technology Metals Acquisitions Corp. (the “Company” or “WTMA”) issued a promissory note (the “Working Capital Note”) in the principal amount of $50,000 to Welsbach Acquisition Holdings LLC (the “Sponsor”) in exchange for cash.

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41 debt financings filed in the last 30 days. Browse all debt financings →

Evolution Metals & Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001213900-23-086424

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