secwatch.observer — SEC 8-K summary
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Issuer:     Global Technology Acquisition Corp. I (—)
CIK:        0001848821
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001493152-24-015934
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GTAC secures up to $2.5M promissory note from sponsor; draws $225K to extend deadline to July 25, 2024
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- Issued unsecured promissory note to sponsor HCG Opportunity II, LLC for up to $2.5M working capital and trust deposits.
- Initial draw of $225K; $209K deposited into trust to extend Business Combination deadline by three months to July 25, 2024.
- Note bears no interest; repayable upon Business Combination or trust liquidation, or earlier upon default.
- Sponsor may convert principal into private placement warrants at $1.00 per warrant upon a Business Combination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1848821/000149315224015934/0001493152-24-015934-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1848821/000149315224015934/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015934

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