Blue World Acquisition Corp: debt financing — BWAQ extends business combination deadline to May 2, 2024; gets $60K deposit from Fuji Solar, $180K note from sponsor

Blue World Acquisition Corp

Fuji Solar deposited $60,000 into trust account to extend business combination deadline from April 2 to May 2, 2024.
Company issued unsecured promissory note of $180,000 to sponsor Blue World Holdings for working capital.
Notes bear no interest, payable upon business combination; convertible into private units at $10.00 per unit.
Business combination with TOYO Solar remains pending; definitive proxy statement filed March 28, 2024.

item 1.01 item 2.03 item 3.02 item 8.01 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

Blue World Acquisition Corp incurred loan of $60,000 with Fuji Solar Co., Ltd at bears no interest maturing payable in full upon the consummation of BWAQ's business combination.

Instrument: loan
Principal: $60,000
Counterparty: Fuji Solar Co., Ltd
Rate: bears no interest
Maturity: payable in full upon the consummation of BWAQ's business combination
Event: incurrence

Exact text from the filing

On April 1, 2024, BWAQ issued to Fuji Solar an unsecured promissory note in the principal amount of $60,000 (the “ Extension Note ”) in connection with the payment for the Extension Fee.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Blue World Acquisition Corp incurred loan of $180,000 with Blue World Holdings Limited at bears no interest maturing payable in full upon the consummation of BWAQ’s business combination.

Instrument: loan
Principal: $180,000
Counterparty: Blue World Holdings Limited
Rate: bears no interest
Maturity: payable in full upon the consummation of BWAQ’s business combination
Event: incurrence

Exact text from the filing

On April 1, 2024, BWAQ issued an unsecured promissory note (the “ Sponsor Note ”, together with the Extension Note, the “ Notes ”) in the amount of $180,000 to Blue World Holdings Limited, the sponsor of the Company (the “ Sponsor ”).

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

Source: SEC EDGAR

accession 0001213900-24-029574

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