ASPAC I Acquisition Corp.: debt financing — ASCA shareholders approve NewGenIvf merger; seals up to $3.5M JAK convertible note facility

ASPAC I Acquisition Corp.

Shareholders voted 99.86% in favor (2,768,905 for vs 4,000 against) for all four business combination proposals at March 4 special meeting.
Entered Securities Purchase Agreement with JAK Opportunities VI for two tranches totaling up to $3.5M principal amount of 12.75% convertible notes.
Third Amendment to Merger Agreement issued 295,000 Commitment Shares to JAK for $1.75M initial tranche payable at business combination close.
Agreed to pay Chardan $1M cash, 1.5M PubCo shares, and 30% of post-closing financing proceeds to satisfy deferred underwriting commission.

item 1.01 item 2.03 item 3.02 item 5.07 item 9.01

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

ASPAC I Acquisition Corp. incurred convertible notes of up to $3,500,000 with JAK Opportunities VI LLC at 12.75% per annum maturing six (6) months from the issuance date.

Instrument: convertible notes
Principal: up to $3,500,000
Counterparty: JAK Opportunities VI LLC
Rate: 12.75% per annum
Maturity: six (6) months from the issuance date
Event: incurrence

Exact text from the filing

the Company has agreed to issue and sell to the Buyers, in a private placement, an aggregate of up to $3,500,000 principal amount of convertible notes

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

Source: SEC EDGAR

accession 0001213900-24-020466

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