WinVest Acquisition Corp. (WINV): debt financing — WinVest draws $65K under note to extend SPAC deadline to Oct 17, 2023

WinVest Acquisition Corp.

Fourth drawdown of $65,000 from $390,000 promissory note issued by sponsor WinVest SPAC LLC.
Funds deposited into trust account to extend termination date from Sept 17 to Oct 17, 2023.
Promissory note bears no interest; sponsor may convert outstanding into private warrants at $0.50 per warrant.
Board may further extend monthly until Dec 17, 2023 with additional $65,000 deposits each month.

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 matures 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: matures 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 0001493152-23-032644

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