Acri Capital Acquisition Corp: debt financing — Acri Capital extends business combination deadline to Feb 14, 2024 with $75k deposit

Acri Capital Acquisition Corp

$75k deposited to extend deadline from Jan 14 to Feb 14, 2024; seventh of nine allowed monthly extensions.
Issued unsecured non-interest-bearing promissory note of $75k to sponsor Acri Capital Sponsor LLC.
Note payable upon business combination or liquidation; convertible into warrants at $1.00 per warrant.
Press release issued Jan 11, 2024 announcing the extension.

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

Acri Capital Acquisition Corp incurred loan of $75,000 with Acri Capital Sponsor LLC at non-interest bearing maturing the earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.

Instrument: loan
Principal: $75,000
Counterparty: Acri Capital Sponsor LLC
Rate: non-interest bearing
Maturity: the earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company
Event: incurrence

Exact text from the filing

the Company issued an unsecured promissory note of $75,000 (the “ Note ”) to its sponsor, Acri Capital Sponsor LLC (the “ Sponsor ”). The Note is non-interest bearing and payable

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

Source: SEC EDGAR

accession 0001213900-24-002990

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