WinVest Acquisition Corp. (WINV): debt financing — WinVest draws $65k third promissory note tranche to extend SPAC deadline to Sep 17, 2023

WinVest Acquisition Corp.

Third drawdown of $65k under $390k unsecured promissory note from Sponsor WinVest SPAC LLC.
Proceeds deposited into trust account to extend Termination Date from Aug 17 to Sep 17, 2023.
Note carries 0% interest, due at earlier of business combination or liquidation.
Sponsor may convert outstanding balance into private warrants at $0.50 per warrant upon business combination.
Previous drawdowns: first and second tranches extended prior deadlines; total drawn now $195k.

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

WinVest Acquisition Corp. incurred loan of $390,000 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: $390,000
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

Arrangement or a Registrant. As previously disclosed, on June 13, 2023, WinVest Acquisition Corp. (the “Company”) issued an unsecured promissory note in the principal amount of $390,000 (the “Promissory Note”) to WinVest SPAC LLC, a Delaware limited liability company (the “Sponsor”), pursuant to which the Sponsor agreed to loan to the Company up to $390,000 in

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WinVest Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-029155

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