LAMF Global Ventures Corp. I: debt financing — LAMF Global Ventures Corp. I enters $1.2M working capital promissory note with sponsor

LAMF Global Ventures Corp. I

Promissory note allows borrowings up to $1.2 million from sponsor LAMF SPAC Holdings I LLC for ongoing business combination expenses.
Unsecured, bears no interest, repayable upon earliest of business combination closing or liquidation.
Sponsor may convert unpaid principal into units at $10.00 per unit, identical to private placement units from IPO.
Note includes trust account waiver, standard default provisions, and registration rights for converted securities.

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

LAMF Global Ventures Corp. I incurred loan of up to $1,200,000 with LAMF SPAC Holdings I LLC at no interest maturing upon the earlier of the date on which the Company consummates its initial business combination or the date of the Company’s liquidation.

Instrument: loan
Principal: up to $1,200,000
Counterparty: LAMF SPAC Holdings I LLC
Rate: no interest
Maturity: upon the earlier of the date on which the Company consummates its initial business combination or the date of the Company’s liquidation
Event: incurrence

Exact text from the filing

On February 2, 2024, LAMF Global Ventures Corp. I, a Cayman Islands exempted company (the “ Company ”), issued an unsecured promissory note (the “ Note ”) to LAMF SPAC Holdings I LLC (the “ Sponsor ”), pursuant to which the Company may borrow up to $1,200,000 from the Sponsor, related to ongoing expenses reasonably related to the business of the Company and the consummation of its initial business combination. The Note bears no interest and is repayable in full upon the earlier of the date on which the Company consummates its initial business combination or the date of the Company’s liquidation.

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

LAMF Global Ventures Corp. I entered into Note with LAMF SPAC Holdings I LLC valued at up to $1,200,000 (effective 2024-02-02).

Action: entry
Counterparty: LAMF SPAC Holdings I LLC
Value: up to $1,200,000
Effective: 2024-02-02

Exact text from the filing

On February 2, 2024, LAMF Global Ventures Corp. I, a Cayman Islands exempted company (the “ Company ”), issued an unsecured promissory note (the “ Note ”) to LAMF SPAC Holdings I LLC (the “ Sponsor ”), pursuant to which the Company may borrow up to $1,200,000 from the Sponsor, related to ongoing expenses reasonably related to the business of the Company and the consummation of its initial business combination.

View on SEC.gov

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Source: SEC EDGAR

accession 0001213900-24-009314

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