WinVest Acquisition Corp. (WINV): debt financing — WinVest Acquisition Corp. draws $65K from sponsor note to extend deadline to Nov 17

WinVest Acquisition Corp.

Fifth drawdown of $65,000 under $390,000 promissory note from sponsor WinVest SPAC LLC.
Funds deposited into trust account to extend business combination deadline from Oct 17 to Nov 17, 2023.
Note is unsecured, non-interest bearing; matures upon business combination or liquidation.
Sponsor may convert outstanding amount into private warrants at $0.50 per warrant upon business combination.

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 $65,000 with WinVest SPAC LLC at does not bear interest maturing upon the earlier of (a) the closing of a Business Combination and (b) the Company's liquidation.

Instrument: loan
Principal: $65,000
Counterparty: WinVest SPAC LLC
Rate: does not bear interest
Maturity: upon the earlier of (a) the closing of a Business Combination and (b) the Company's liquidation
Event: incurrence

Exact text from the filing

On October 16, 2023, the Company effected the fifth drawdown of $65,000 under the Promissory Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from October 17, 2023 to November 17, 2023.

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Source: SEC EDGAR

accession 0001493152-23-037365

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