debt
confidence high
sentiment neutral
materiality 0.20
Andretti Acquisition Corp. II issues $1.5M in promissory notes to insiders for working capital
Andretti Acquisition Corp. II
- Three notes to William Sandbrook ($720K), Michael Andretti ($300K), William Brown ($480K).
- Notes bear no interest, due upon business combination or liquidation.
- Conversion option at $10/unit into units (one share + half warrant) at business combination.
- Payees waive any claim against trust account; repayment from trust prohibited.