Estrella Immunopharma, Inc. (ESLA): debt financing — TradeUP Acquisition extends business combination deadline to April 19, 2023; Estrella deposits $45,511

Estrella Immunopharma, Inc.

Estrella Biopharma deposited $45,511 into trust account to extend deadline from March 19 to April 19, 2023.
Company issued unsecured promissory note to Estrella for $45,511, bearing no interest, payable upon business combination.
Conversion option: Estrella may convert note into private shares at $10.00 per share, with 30-day lock-up after business combination.
Monthly extensions available through July 19, 2023, at $0.05 per public share per month.

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 0.95

Estrella Immunopharma, Inc. incurred loan of $45,511 with Estrella Biopharma, Inc. at no interest maturing payable in full upon the consummation of the Company's business combination.

Instrument: loan
Principal: $45,511
Counterparty: Estrella Biopharma, Inc.
Rate: no interest
Maturity: payable in full upon the consummation of the Company's business combination
Event: incurrence

Exact text from the filing

Pursuant to the Merger Agreement, Estrella has deposited a monthly extension payment of $45,511 to the trust account of the Company to extend the deadline for the Company to complete the business combination contemplated therein by April 19, 2023. Such deposit is evidenced by an unsecured promissory note in the principal amount of o $45,511 issued by the Company to Estrella (the “Extension Note”).

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Source: SEC EDGAR

accession 0001575872-23-000384

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