Thunder Power Holdings, Inc. (AIEV): debt financing — Feutune Light extends deadline to Dec 21, 2023 with $100k trust deposit and promissory note to Thunder Power

Thunder Power Holdings, Inc.

$100,000 deposited into trust for November extension; deadline moved from Nov 21 to Dec 21, 2023.
Unsecured promissory note issued to Thunder Power for $100,000; no interest, due at business combination or maturity.
This is the sixth of up to nine monthly extensions permitted under charter through March 21, 2024.
Note convertible into private units at $10.00 per unit, identical to public units, subject to conversion notice.
Press release confirms extension; company continues pursuing merger with Thunder Power.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Thunder Power Holdings, Inc. incurred loan of $100,000 with Thunder Power Holdings Limited 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: $100,000
Counterparty: Thunder Power Holdings Limited
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 November Monthly Extension Payment and pursuant to the Agreement and Plan of Merger entered into by the Company, Thunder Power Holdings Limited (“ Thunder Power ”), and Feutune Light Merger Sub, Inc. on October 26, 2023 (the “ Merger Agreement ”), the Company issued an unsecured promissory note of $100,000 (the “ Note ”) to Thunder Power, to evidence the payments made for the November Monthly Extension Payment.

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Thunder Power Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-089135

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