Appreciate Holdings, Inc.: debt financing — Appreciate Holdings receives maturity notice under Forward Purchase Agreement; owes $6.75M to Polar

Appreciate Holdings, Inc.

Polar Multi-Strategy Master Fund designated Nov 9, 2023 as Maturity Date under Forward Purchase Agreement.
Maturity consideration is $6,750,000, payable to Polar on Settlement Date of Nov 13, 2023.
Polar will deliver 2,942,049 recycled shares to Appreciate Holdings on Nov 13, 2023.
Maximum Number of Shares under agreement was 3,000,000; no terminated shares.

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

Appreciate Holdings, Inc. faced acceleration on debt of $6,750,000 with Polar Multi-Strategy Master Fund maturing November 9, 2023.

Principal: $6,750,000
Counterparty: Polar Multi-Strategy Master Fund
Maturity: November 9, 2023
Event: acceleration

Exact text from the filing

On November 9, 2023, the Company received a notice from Polar Multi-Strategy Master Fund ("Polar") that states it is designating November 9, 2023 as the Valuation Date and Maturity Date under the previously disclosed Forward Purchase Agreement entered into in November 2022. The notice states that the maturity consideration is $6,750,000.

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Source: SEC EDGAR

accession 0001213900-23-088413

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