Nova Vision Acquisition Corp: debt financing — Nova Vision extends business combination deadline to Nov 10, 2023 with $69,763 trust deposit

Nova Vision Acquisition Corp

Sponsor Nova Pulsar deposited $69,763.37 into trust account to extend period by one month.
Company issued unsecured promissory note with zero interest, convertible into units at $10/unit upon business combination.
Extension moves deadline from October 10, 2023 to November 10, 2023 for completing a business combination.
Deposit represents approximately $0.045 per outstanding ordinary share not yet redeemed.

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.

Instrument: loan
Principal: $69,763.37
Counterparty: Nova Pulsar Holdings Limited
Rate: does not bear interest
Maturity: upon the closing of a business combination
Event: incurrence

Exact text from the filing

On October 6, 2023, Nova Vision Acquisition Corp. (the “Company”) 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 0001493152-23-036632

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