Nova Vision Acquisition Corp: debt financing — Nova Vision extends business combination deadline to June 10, 2023; sponsor deposits $75K to trust

Nova Vision Acquisition Corp

Sponsor Nova Pulsar deposited $75,030.26 into trust account to fund one-month extension.
Business combination period extended from May 10, 2023 to June 10, 2023.
Company issued non-interest bearing promissory note for same amount, convertible into units at $10/unit upon closing.
Extension provides additional time to complete initial 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

Nova Vision Acquisition Corp incurred loan of $75,030.26 with Nova Pulsar Holdings Limited at does not bear interest maturing upon the closing of a business combination by the Company.

Instrument: loan
Principal: $75,030.26
Counterparty: Nova Pulsar Holdings Limited
Rate: does not bear interest
Maturity: upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On May 2, 2023, Nova Vision Acquisition Corp. (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $75,030.26 (the “Note”) to Nova Pulsar Holdings Limited, the Company’s initial public offering sponsor (“Sponsor”) in exchange for Sponsor depositing such amount into the Company’s trust account in order to extend the amount of time it has available to complete a business combination. The Note does not bear interest and matures upon the closing of a business combination by the Company.

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Source: SEC EDGAR

accession 0001493152-23-015246

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