WinVest Acquisition Corp. (WINV): debt financing — WinVest draws fifth $55k from sponsor note to extend business combination deadline to May 17, 2024

WinVest Acquisition Corp.

Fifth drawdown of $55,000 under unsecured promissory note from sponsor WinVest SPAC LLC.
Proceeds deposited into trust account to extend Termination Date from April 17 to May 17, 2024.
Promissory note principal up to $330,000; no interest; matures at deal close or liquidation.
Cumulative draws total $275,000 (5 x $55,000) used for monthly extensions of SPAC deadline.

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

WinVest Acquisition Corp. incurred loan of $55,000 with WinVest SPAC LLC at does not bear interest maturing matures upon the earlier of (a) the closing of a Business Combination and (b) the Company’s liquidation.

Instrument: loan
Principal: $55,000
Counterparty: WinVest SPAC LLC
Rate: does not bear interest
Maturity: matures upon the earlier of (a) the closing of a Business Combination and (b) the Company’s liquidation
Event: incurrence

Exact text from the filing

On April 16, 2024, the Company effected the fifth drawdown of $55,000 under the Promissory Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from April 17, 2024 to May 17, 2024.

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Source: SEC EDGAR

accession 0001493152-24-014979

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