Nova Vision Acquisition Corp: debt financing — Nova Vision extends business combination deadline to Oct 10, 2023 via $69,763 sponsor note

Nova Vision Acquisition Corp

Sponsor deposited $69,763.37 into trust to extend business combination period by one month to October 10, 2023.
Company issued non-interest bearing promissory note to sponsor; note convertible into units at $10.00 per unit upon closing.
Extension provides additional time to complete a business combination; no change to target strategy announced.

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 $69,763.37 with Nova Pulsar Holdings Limited at does not bear interest maturing upon the closing of a business combination by the Company.

Instrument: loan
Principal: $69,763.37
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

issued an unsecured promissory note in the aggregate principal amount of $69,763.37 (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 0001493152-23-032257

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