Keyarch Acquisition Corp: debt financing — Keyarch Acquisition obtains up to $600K promissory note from sponsor for working capital

Keyarch Acquisition Corp

Principal amount up to $600,000; no interest; due at earliest of business combination or winding up.
Drawdowns minimum $10,000 each; Payee must fund within 5 business days of request.
Sponsor Keyarch Global Sponsor Limited waives any claim against trust account except repayment upon business combination.
Note is unregistered; cannot be sold or transferred without registration or legal opinion.

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

Keyarch Acquisition Corp incurred loan of $600,000 with Keyarch Global Sponsor Limited at no interest maturing upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the date that the winding up of the Company.

Instrument: loan
Principal: $600,000
Counterparty: Keyarch Global Sponsor Limited
Rate: no interest
Maturity: upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the date that the winding up of the Company
Event: incurrence

Exact text from the filing

On December 21, 2023, Keyarch Acquisition Corporation (the “ Company ”) issued a promissory note (the “ Note ”) in the principal amount of up to $600,000 to Keyarch Global Sponsor Limited, a Cayman Islands limited liability company and the Company’s sponsor (the “ Payee ”).

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

Keyarch Acquisition Corp entered into Note with Keyarch Global Sponsor Limited valued at up to $600,000 (effective 2023-12-21).

Action: entry
Agreement: notes offering
Counterparty: Keyarch Global Sponsor Limited
Value: up to $600,000
Effective: 2023-12-21

Exact text from the filing

Keyarch Acquisition Corporation (the " Company ") issued a promissory note (the " Note ") in the principal amount of up to $600,000 to Keyarch Global Sponsor Limited

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Source: SEC EDGAR

accession 0001213900-23-097721

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