Nova Vision Acquisition Corp: debt financing — Nova Vision extends combination deadline to Aug 10, 2023 with $75k trust deposit

Nova Vision Acquisition Corp

Deposited $75,030.26 into trust account to extend business combination period from July 10 to August 10, 2023.
Sponsor issued unsecured promissory note for $75,030.26, non-interest bearing, convertible into units at $10.00 per unit.
Extension provides additional month to complete a business combination; target industries include fintech, proptech, consumertech, supply chain.

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 matures 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: matures upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On July 5, 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.

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Source: SEC EDGAR

accession 0001493152-23-023809

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