Inception Growth Acquisition Ltd (IGTA): debt financing — Inception Growth Acquisition issues $200K promissory note to sponsor; deadline Dec 13

Inception Growth Acquisition Ltd

$200,000 unsecured non-interest bearing promissory note issued to sponsor Soul Venture Partners LLC.
Note matures upon closing of a business combination; if no deal by Dec 13, 2023, note terminates with no amounts due.
Proceeds likely to fund working capital or extend deadline for initial business combination.
Note may be repaid in cash or other form as agreed; trust account waiver included.

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

Inception Growth Acquisition Ltd incurred loan of $200,000 with Soul Venture Partners LLC at does not bear interest maturing matures upon the closing of a business combination by the Company.

Instrument: loan
Principal: $200,000
Counterparty: Soul Venture Partners LLC
Rate: does not bear interest
Maturity: matures upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On November 17, 2023, Inception Growth Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $200,000 (the “Note”) to Soul Venture Partners LLC, the Company’s initial public offering sponsor (“Sponsor”).

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Source: SEC EDGAR

accession 0001213900-23-089562

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