Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CDT Equity Inc. incurred loan of up to $1,500,000 with Murphy Canyon Acquisition Sponsor, LLC at no interest maturing upon the earlier of (i) the date on which the Company consummates its Initial Business Combination and (ii) the date that the winding up of the Company is effec.
- Instrument
- loan
- Principal
- up to $1,500,000
- Counterparty
- Murphy Canyon Acquisition Sponsor, LLC
- Rate
- no interest
- Maturity
- upon the earlier of (i) the date on which the Company consummates its Initial Business Combination and (ii) the date that the winding up of the Company is effec
- Event
- incurrence
Exact text from the filing
On March 7, 2023, Murphy Canyon Acquisition Corp., a Delaware corporation (“Murphy” or the “Company”), issued a promissory note (the “Note”) in the principal amount of up to $1,500,000 to Murphy Canyon Acquisition Sponsor, LLC, the sponsor of the Company (the “Sponsor”), in connection with the extension of the termination date for the Company’s initial business combination (the “Initial Business Combination”) from February 7, 2023, to February 7, 2024, on a month-to-month basis, at the Company’s election. The Note bears no interest and is repayable in full upon the earlier of (i) the date on which the Company consummates its Initial Business Combination and (ii) the date that the winding up of the Company is effective. Pursuant to the Note, on March 7, 2023 the Sponsor loaned the Company $300,000 to fund its trust account and pay for operating expenses.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CDT Equity Inc. entered into Note with Murphy Canyon Acquisition Sponsor, LLC valued at $1,500,000 (effective 2023-03-07).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Murphy Canyon Acquisition Sponsor, LLC
- Value
- $1,500,000
- Effective
- 2023-03-07
Exact text from the filing
On March 7, 2023, Murphy Canyon Acquisition Corp., a Delaware corporation (“Murphy” or the “Company”), issued a promissory note (the “Note”) in the principal amount of up to $1,500,000 to Murphy Canyon Acquisition Sponsor, LLC, the sponsor of the Company (the “Sponsor”), in connection with the extension of the termination date for the Company’s initial business combination (the “Initial Business Combination”) from February 7, 2023, to February 7, 2024, on a month-to-month basis, at the Company’s election.
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