TMT Acquisition Corp.: debt financing — TMT Acquisition Corp issues $300K convertible note to sponsor affiliate for working capital

TMT Acquisition Corp.

Convertible promissory note of $300,000 to Xiaozhen Li, a limited partner of sponsor 2TM Holding LP.
Note bears no interest, principal due upon consummation of a business combination.
Payee may convert note into TMT units at $10 per unit, each unit = 1 share + 2/10 right.
$300,000 deposited into SPAC's working capital account on March 21, 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

TMT Acquisition Corp. incurred convertible notes of $300,000 with Ms. Xiaozhen Li at no interest maturing upon consummation of the Business Combination.

Instrument: convertible notes
Principal: $300,000
Counterparty: Ms. Xiaozhen Li
Rate: no interest
Maturity: upon consummation of the Business Combination
Event: incurrence

Exact text from the filing

On March 19, 2024, TMT Acquisition Corp (the "SPAC") issued a convertible Promissory Note to Ms. Xiaozhen Li with a principal amount of $300,000 (the "Note") in order to finance its transaction costs in relation to its initial business combination (the "Business Combination").

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Source: SEC EDGAR

accession 0001493152-24-010989

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