Healthcare AI Acquisition Corp.: debt financing — Healthcare AI Acquisition Corp. extends business combination deadline to August 14, 2023 via $50k trust deposit

Healthcare AI Acquisition Corp.

Sponsor Atticus Ale, LLC deposited $50,000 into trust account to extend deadline from July 14 to August 14, 2023.
Company issued $100,000 unsecured promissory note to sponsor, bearing no interest, due at business combination close.
Extension follows shareholder-approved monthly extension mechanism through June 14, 2024 requiring $50k per month.
Company has not yet consummated a business combination; continues to seek target.

item 1.01 item 2.03 item 7.01 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 0.95

Healthcare AI Acquisition Corp. incurred loan of $100,000 with Atticus Ale, LLC at does not bear interest maturing upon closing of a business combination by the Company.

Instrument: loan
Principal: $100,000
Counterparty: Atticus Ale, LLC
Rate: does not bear interest
Maturity: upon closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On July 12, 2023, Healthcare AI Acquisition Corp. (the “ Company ”) issued one unsecured promissory note (the “ Note ”) in an amount of $100,000, to Atticus Ale, LLC (“ Sponsor ”), for having deposited into the Company’s trust account two payments of $50,000 in order to extend the amount of time it has available to complete a business combination until August 14, 2023. The Note does not bear interest and matures upon closing of a business combination by the Company.

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Source: SEC EDGAR

accession 0001477932-23-005239

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