WinVest Acquisition Corp. (WINV): debt financing — WinVest draws $125k from sponsor note to extend business combination deadline to May 17, 2023

WinVest Acquisition Corp.

Fifth drawdown of $125,000 under $750,000 unsecured promissory note from sponsor WinVest SPAC LLC.
Deposited into trust account to extend Termination Date from April 17, 2023 to May 17, 2023.
Promissory Note matures upon business combination close or liquidation; sponsor may convert outstanding into private warrants at $0.50 each.
Repayment of note limited to funds outside trust if no business combination is consummated.

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 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: earlier of (a) the closing of a Business Combination and (b) the Company's liquidation
Event: incurrence

Exact text from the filing

On April 17, 2023, the Company effected the fifth drawdown of $125,000 under the Promissory Note and caused such sum to be deposited into the Trust Account

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WinVest Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-012719

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