CITIUS ONCOLOGY, INC. (CTOR): debt financing — TenX Keane Acquisition extends business combination deadline to May 18, 2024 with $66,667 deposit

CITIUS ONCOLOGY, INC.

Citius Pharma deposited $66,667 into trust to extend deadline from April 18 to May 18, 2024.
Extension funded by unsecured promissory note issued to Citius Pharma; note bears no interest, repayable at close.
Sponsor may extend up to seven additional months through Nov 18, 2024 with similar monthly deposits.
Merger agreement with Citius Oncology dated October 23, 2023 remains pending.

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

CITIUS ONCOLOGY, INC. incurred loan of principal amount of $66,667 with Citius Pharma at no interest maturing repayable in full per the terms of the Merger Agreement.

Instrument: loan
Principal: principal amount of $66,667
Counterparty: Citius Pharma
Rate: no interest
Maturity: repayable in full per the terms of the Merger Agreement
Event: incurrence

Exact text from the filing

On April 26, 2024, Citius Pharma deposited $66,667 into the trust account of the Company (the "Contribution") to extend the timeline to complete a business combination for an additional one (1) month period from April 18, 2024 to May 18, 2024 (the "Extension"). Such deposit of the Contribution is evidenced by an unsecured promissory note (the "Note") issued by the Company in the principal amount of $66,667 to Citius Pharma. The Note bears no interest and is repayable in full per the terms of the Merger Agreement.

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Source: SEC EDGAR

accession 0001493152-24-017024

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