Currenc Group Inc. (CURR): debt financing — INFINT Acquisition Corp. enters $400K promissory note with sponsor, replacing prior $150K note

Currenc Group Inc.

Promissory note of up to $400,000, non-interest bearing, payable upon initial business combination.
Replaces and supersedes May 1, 2023 promissory note from sponsor InFinT Capital LLC for up to $150,000.
Sponsor may elect to convert principal into private placement warrants at $1.00 per warrant upon business combination.
Funds are for working capital; note is unsecured and not guaranteed by trust account.
Customary events of default including bankruptcy; no interest accrues.

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

Currenc Group Inc. incurred loan of up to $400,000 with InFinT Capital LLC (the Sponsor) at does not bear interest maturing the date on which the Company consummates its initial business combination.

Instrument: loan
Principal: up to $400,000
Counterparty: InFinT Capital LLC (the Sponsor)
Rate: does not bear interest
Maturity: the date on which the Company consummates its initial business combination
Event: incurrence

Exact text from the filing

On September 13, 2023, INFINT Acquisition Corporation (the “Company”) issued an unsecured promissory note (the “Note”) in the principal amount of up to $400,000 to InFinT Capital LLC (the “Sponsor”), the Company’s sponsor, which may be drawn down from time to time prior to the Maturity Date (as defined below) upon request by the Company.

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Source: SEC EDGAR

accession 0001493152-23-032755

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