debt
confidence high
sentiment neutral
materiality 0.50
Corner Growth Acquisition Corp. 2 obtains $1M convertible working capital loan from Connor Square
CORNER GROWTH ACQUISITION CORP. 2
- Loan of up to $1,000,000 from Connor Square, LLC for working capital, evidenced by a promissory note dated August 14, 2025.
- Loan is non-interest bearing and payable upon consummation of a business combination; if no deal, forgiven unless funds outside trust.
- Upon business combination, lender can convert principal into warrants at $1.50 per share, identical to private placement warrants from IPO.
- The loan provides additional working capital while the SPAC seeks a business combination target.
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