WinVest Acquisition Corp. (WINV): debt financing — WinVest Acquisition extends termination date to March 17, 2023, with $125K deposit

WinVest Acquisition Corp.

Sponsor deposited $125,000 into trust, third drawdown on $750K promissory note convertible at $0.50 per warrant.
Termination date extended from February 17, 2023 to March 17, 2023.
Board may extend monthly through June 17, 2023 with additional $125K deposit per month.
Promissory note is unsecured, no interest, convertible into private warrants upon business combination.

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

WinVest Acquisition Corp. incurred loan of $750,000 with WinVest SPAC LLC at does not bear interest maturing upon the earlier of (a) the closing of a Business Combination and (b) the Company's liquidation.

Instrument: loan
Principal: $750,000
Counterparty: WinVest SPAC LLC
Rate: does not bear interest
Maturity: upon the earlier of (a) the closing of a Business Combination and (b) the Company's liquidation
Event: incurrence

Exact text from the filing

or a Registrant. As previously disclosed, on December 5, 2022, WinVest Acquisition Corp. (the “Company”) issued an unsecured promissory note in the principal amount of $750,000 (the “Promissory Note”) to WinVest SPAC LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to loan to the Company up to $750,000 in

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Source: SEC EDGAR

accession 0001493152-23-005004

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