secwatch.observer — SEC 8-K summary
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Issuer:     SHUAA Partners Acquisition Corp I (—)
CIK:        0001886268
Form:       8-K
Filed at:   2023-09-05T23:59:59+00:00
Accession:  0001493152-23-031660
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SHUAA Partners extends business combination deadline to Oct 4, 2023; secures $1M working capital note from sponsor
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- Sponsor deposited $70,000 into trust for one-month extension of deadline from Sep 4 to Oct 4, 2023.
- Board approved extension; company can extend monthly up to June 4, 2024.
- Issued up to $1M non-interest bearing promissory note to sponsor for working capital; due upon business combination or forgiven if no deal.
- Note is unsecured and repayable only from funds outside trust; sponsor waives claim to trust.
- Extension and note are standard for SPAC; no assurance of completing a business combination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886268/000149315223031660/0001493152-23-031660-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886268/000149315223031660/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-031660

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