WinVest Acquisition Corp. (WINV): debt financing — WinVest Acquisition draws $125K sponsor loan to extend deadline to April 17, 2023

WinVest Acquisition Corp.

Fourth drawdown of $125,000 under $750K promissory note from sponsor WinVest SPAC LLC.
Termination date extended from March 17, 2023 to April 17, 2023.
Proceeds deposited into trust account; available for redemption or liquidation.
Upon business combination, sponsor may convert outstanding amount into private warrants at $0.50 per warrant.

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

WinVest Acquisition Corp. incurred loan of $125,000 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: $125,000
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

On March 15, 2023, the Company effected the fourth drawdown of $125,000 under the Promissory Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from March 17, 2023 to April 17, 2023.

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Source: SEC EDGAR

accession 0001493152-23-007918

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