Thunder Power Holdings, Inc. (AIEV): debt financing — Feutune Light extends business combination deadline to March 21, 2024 via $100K deposit

Thunder Power Holdings, Inc.

Deposited $100,000 into trust to extend deadline from Feb 21 to Mar 21, 2024; ninth and final permitted monthly extension.
Issued $100,000 unsecured promissory note to merger target Thunder Power Holdings; bears no interest, convertible at $10/unit.
Note matures upon business combination or expiry; Thunder Power may convert note into private units identical to public units.

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

Thunder Power Holdings, Inc. incurred loan of $100,000 with Thunder Power Holdings Limited at bears no interest maturing upon the earlier to occur of (i) the consummation of the Company's business combination, or (ii) the date of expiry of the term of the Company.

Instrument: loan
Principal: $100,000
Counterparty: Thunder Power Holdings Limited
Rate: bears no interest
Maturity: upon the earlier to occur of (i) the consummation of the Company's business combination, or (ii) the date of expiry of the term of the Company
Event: incurrence

Exact text from the filing

In connection with the February Monthly Extension Payment and pursuant to the Agreement and Plan of Merger entered into by the Company, Thunder Power Holdings Limited (" Thunder Power "), and Feutune Light Merger Sub, Inc. on October 26, 2023 (the " Merger Agreement "), the Company issued an unsecured promissory note of $100,000 (the " Note ") to Thunder Power, to evidence the payments made for the February Monthly Extension Payment.

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Thunder Power Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-015782

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