Soulpower Acquisition Corp. (SOUL): debt financing — SPAC Soulpower Acquisition issues up to $2.5M promissory note to sponsor affiliate for working capital

Soulpower Acquisition Corp.

Unsecured promissory note (B Note) for up to $2,500,000 issued to Soulpower Management LLC on May 29, 2026.
Principal bears no interest and is automatically forgiven if initial business combination is consummated.
If no business combination, note is due upon liquidation or earlier event of default.
Proceeds will be used for general working capital purposes.
Lender is controlled by CEO Justin Lafazan and holds voting discretion over sponsor's shares.

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

Soulpower Acquisition Corp. incurred loan of up to $2,500,000 with Soulpower Management LLC at bears no interest maturing upon consummation of the Company's initial business combination.

Instrument: loan
Principal: up to $2,500,000
Counterparty: Soulpower Management LLC
Rate: bears no interest
Maturity: upon consummation of the Company's initial business combination
Event: incurrence

Exact text from the filing

On May 29, 2026, Soulpower Acquisition Corporation (the "Company") issued an unsecured promissory note in the principal amount of up to $2,500,000 (the "B Note") to Soulpower Management LLC (the "Lender").

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Soulpower Acquisition Corp. filing history →

Source: SEC EDGAR

accession 0001493152-26-026654

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