Estrella Immunopharma, Inc. (ESLA): debt financing — TradeUP Acquisition extends business combination deadline to Feb 19, 2023; issues notes for extension expenses

Estrella Immunopharma, Inc.

Deposited $45,511 into trust to extend deadline from Jan 19 to Feb 19, 2023, funded by Estrella Biopharma.
Issued unsecured $45,511 promissory note to Estrella for extension deposit; no interest, due at merger close.
Issued $50,000 promissory note to sponsor TradeUP Acquisition Sponsor LLC for operating expenses, convertible at $10/share.
Company may extend monthly until July 19, 2023 by depositing additional $45,511 each month.
Notes convertible into common stock at $10 per share upon written notice two business days before merger close.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

Estrella Immunopharma, Inc. incurred loan of $50,000 with TradeUP Acquisition Sponsor LLC at bear no interest maturing payable in full upon the consummation of the Company's business combination.

Instrument: loan
Principal: $50,000
Counterparty: TradeUP Acquisition Sponsor LLC
Rate: bear no interest
Maturity: payable in full upon the consummation of the Company's business combination
Event: incurrence

Exact text from the filing

On January 19, 2023, the Company issued an unsecured promissory note (the “Sponsor Note”) in the amount of $50,000 to TradeUP Acquisition Sponsor LLC, one of its sponsors (the “Sponsor”) to evidence a deposit that the Sponsor provided to the Company to pay its certain operating expenses.

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Estrella Immunopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001575872-23-000129

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