ClimateRock secures up to $1.5M interest-free loan from related party; amends four existing loans

ClimateRock

New loan facility of up to $1.5M from Eternal BV, controlled by Executive Chairman Charles Ratelband V; $1,340,562 drawn as of Aug 9, 2024.
Loan is unsecured, bears 0% interest; matures Mar 31, 2025 or upon initial business combination, whichever earlier.
Four prior loans (Sept 2022 $180k, Nov 2022 $300k, Apr 2023 $500k, Nov 2023 $335k) amended to extend maturity to Jan 1, 2025 or Mar 31, 2025.
Board and Audit Committee approved related-party transaction, deemed fair and in best interests.
Proceeds to support anticipated offering costs and expenses.

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