Inception Growth Acquisition Ltd (IGTA): debt financing — Inception Growth Acquisition issues $420K promissory note to sponsor; due at deal or Feb 13 deadline

Inception Growth Acquisition Ltd

Issued $420,000 unsecured promissory note to sponsor Soul Venture Partners LLC on Jan 24, 2024.
Note bears no interest and matures upon closing of a business combination.
If no business combination by Feb 13, 2024 (as may be extended), note is terminated and no amounts due.
Proceeds likely to fund working capital as SPAC nears its deadline.
Sponsor waives any claim against the trust account per note terms.

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 $420,000 with Soul Venture Partners LLC at does not bear interest maturing upon the closing of a business combination by the Company.

Instrument: loan
Principal: $420,000
Counterparty: Soul Venture Partners LLC
Rate: does not bear interest
Maturity: upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On January 24, 2024, Inception Growth Acquisition Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $420,000 (the “Note”) to Soul Venture Partners LLC, the Company’s initial public offering sponsor (“Sponsor”).

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

Inception Growth Acquisition Ltd filing history →

Source: SEC EDGAR

accession 0001213900-24-007160

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