SBC Medical Group Holdings Inc (SBC): debt financing — Pono Capital Two boosts convertible note to $2.7M; parties release merger claims

SBC Medical Group Holdings Inc

Note purchase price increased from $1.0M to $2.7M per Amended Note Purchase Agreement dated Feb 27, 2024.
Convertible promissory note principal amount raised to $2.7M, maturing on Aug 29, 2024 or upon business combination close.
Note convertible into 270,000 shares of Pono Common Stock (implied conversion price ~$10/share).
Parties released each other from all claims arising from termination of Merger Agreement or failure to close business combination.

item 1.01 item 2.03 item 3.02 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

SBC Medical Group Holdings Inc amended convertible notes of $2,700,000 with SBC Medical Group Holdings Incorporated.

Instrument: convertible notes
Principal: $2,700,000
Counterparty: SBC Medical Group Holdings Incorporated
Event: amendment

Exact text from the filing

nd SBC Medical Group Holdings Incorporated, a Delaware corporation (“ SBC ”), entered into a Note Purchase Agreement

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Source: SEC EDGAR

accession 0001493152-24-008595

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