Cetus Capital Acquisition Corp.: debt financing — Cetus Capital gets $575K extension loan from sponsor to push business combo deadline to Feb 2, 2024

Cetus Capital Acquisition Corp.

Sponsor deposited $575,000 into trust account to extend business combination deadline from Nov 2, 2023 to Feb 2, 2024.
Loan evidenced by unsecured promissory note bearing 6.5% interest, due upon earlier of business combination or May 2, 2024.
Funds provided by MKD BVI to sponsor, secured by 575,000 shares of Company common stock held by sponsor.
Extension allows more time for pending Business Combination with MKD Technology Inc. (MKD Taiwan).

item 1.01 item 2.03 item 9.01

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

Cetus Capital Acquisition Corp. incurred loan of $575,000 with Cetus Sponsor LLC.

Instrument: loan
Principal: $575,000
Counterparty: Cetus Sponsor LLC
Event: incurrence

Exact text from the filing

on October 31, 2023, Cetus Sponsor LLC (the “Sponsor”) deposited an aggregate of $575,000 (representing $0.10 per public share) into the Company’s trust account maintained at Continental Stock Transfer & Trust Company (“CST”) pursuant to that certain Investment Management Trust Agreement dated as of January 31, 2023 by and between the Company and CST. This deposit was made in respect of a loan to the Company (the “Extension Loan”), which Extension Loan is evidenced by an unsecured promissory note issued by the Company to the Sponsor (the “Extension Note”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Cetus Capital Acquisition Corp. entered into Extension Note with Cetus Sponsor LLC valued at $575,000 (effective 2023-10-31).

Action: entry
Counterparty: Cetus Sponsor LLC
Value: $575,000
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023, Cetus Sponsor LLC (the "Sponsor") deposited an aggregate of $575,000 (representing $0.10 per public share) into the Company's trust account maintained at Continental Stock Transfer & Trust Company ("CST") pursuant to that certain Investment Management Trust Agreement dated as of January 31, 2023 by and between the Company and CST.

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Source: SEC EDGAR

accession 0001493152-23-039351

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