Nova Vision Acquisition Corp: debt financing — Nova Vision extends business combination deadline to April 10, 2024 with $69.8K sponsor deposit

Nova Vision Acquisition Corp

Sponsor deposited $69,763.37 into trust to extend deadline one month from March 10 to April 10, 2024.
Company issued non-interest-bearing promissory note for $69,763.37, convertible into units at $10.00 per unit at closing of business combination.
Also issued $50,000 working capital note from sponsor for general working capital, same conversion terms.

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 $50,000 with Nova Pulsar Holdings Limited at do not bear interest maturing mature upon the closing of a business combination by the Company.

Instrument: loan
Principal: $50,000
Counterparty: Nova Pulsar Holdings Limited
Rate: do not bear interest
Maturity: mature upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

(b) an unsecured promissory note in the aggregate principal amount of $50,000 (the "Working Capital Note") in exchange for Sponsor providing such amount to the Company as working capital

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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 do not bear interest maturing mature upon the closing of a business combination by the Company.

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

Exact text from the filing

On March 8, 2024, Nova Vision Acquisition Corp. (the "Company") issued to Nova Pulsar Holdings Limited, the Company’s initial public offering sponsor ("Sponsor") (a) an unsecured promissory note in the aggregate principal amount of $69,763.37 (the "Extension Note") 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 0001493152-24-009486

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