Estrella Immunopharma, Inc. (ESLA): debt financing — TradeUP extends business combination deadline to May 19, 2023 with Estrella deposit of $45,511

Estrella Immunopharma, Inc.

Estrella Biopharma deposited $45,511 ($0.05 per public share) into trust to extend deadline from April 19 to May 19, 2023.
Extension Note is unsecured, non-interest bearing, payable upon business combination close or termination.
Estrella has right to convert note into private shares at $10.00 per share before closing.
Company may extend monthly through July 19, 2023 per charter by depositing $45,511 each 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 0.9

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

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

Exact text from the filing

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 May 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 0001575872-23-000556

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