Nova Vision Acquisition Corp: debt financing — Nova Vision extends business combination deadline to Feb 10, 2024; sponsor deposits $69,763 into trust

Nova Vision Acquisition Corp

Sponsor deposited $69,763.37 into trust to extend deadline from Jan 10 to Feb 10, 2024.
Company issued non-interest-bearing promissory note to sponsor, convertible into units at $10.00 per unit.
Note matures upon business combination; conversion yields units identical to IPO units.
Extension provides time to complete initial business combination; prior deadline Jan 10, 2024.

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 aggregate principal amount of $69,763.37 with Nova Pulsar Holdings Limited maturing matures upon the closing of a business combination by the Company.

Instrument: loan
Principal: aggregate principal amount of $69,763.37
Counterparty: Nova Pulsar Holdings Limited
Maturity: matures upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On January 6, 2024, 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 0001493152-24-001890

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