Aspac I Acquisition extends business combination deadline to April 17 via trust deposit, secures $300K sponsor note

ASPAC I Acquisition Corp.

Deposited $20,000 into trust account; deadline extended from March 17 to April 17, 2024; trust now holds ~$21.5 million.
Issued unsecured promissory note to sponsor A SPAC (Holdings) Acquisition Corp. for up to $300,000 to fund expenses and working capital.
Note is convertible into warrants at $1.00 per warrant with same terms as public warrants; no interest accrues.
Note payable on demand or upon termination/consummation of initial business combination; proceeds used for extension payments and working capital.

Key facts

Extracted from this filing and checked against the source text.

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

ASPAC I Acquisition Corp. entered into Note with A SPAC (Holdings) Acquisition Corp. valued at up to $300,000 (effective 2024-03-15).

Action: entry
Agreement: notes offering
Counterparty: A SPAC (Holdings) Acquisition Corp.
Value: up to $300,000
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, A SPAC I Acquisition Corp. (the “Company”) issued an unsecured promissory note in the aggregate principal amount of up to $300,000 (the “Note”) to A SPAC (Holdings) Acquisition Corp., the Company’s sponsor (the “Sponsor”).

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Source: SEC EDGAR

accession 0001213900-24-023177

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