LanzaTech Global, Inc. (LNZA): debt financing — LanzaTech converts $60M SAFE into loan with Brookfield; $12.5M due Feb 21, 2025

LanzaTech Global, Inc.

Loan of $60,030,750 (initial $50M plus 8% compounded interest from Oct 2022) replaces the SAFE; $12.5M principal due Feb 21, 2025.
Remaining principal plus 8% compounded interest due Oct 3, 2027, or earlier on change of control or breach.
For each $50M of equity funding for qualifying projects, $5M of loan principal is deemed repaid.
Brookfield gets board observer rights and information/access rights; LanzaTech restricted from dividends, share repurchases, and senior debt without consent.
SAFE terminated; Framework Agreement remains in effect.

item 1.01 item 1.02 item 2.03 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

LanzaTech Global, Inc. incurred loan of $60,030,750 with Brookfield at 8% per annum maturing October 3, 2027.

Instrument: loan
Principal: $60,030,750
Counterparty: Brookfield
Rate: 8% per annum
Maturity: October 3, 2027
Event: incurrence

Exact text from the filing

Under the Loan Agreement and effective as of the termination of the SAFE, Brookfield was deemed to have loaned to LanzaTech and LanzaTech was deemed to have borrowed from Brookfield $60,030,750, representing the $50,000,000 initial amount under the SAFE plus accrued interest at a rate of 8% per annum, compounded annually from October 2, 2022 to and including February 14, 2025 (the “Loan”). The Loan will accrue interest at a rate of 8% per annum, compounded annually, from February 14, 2025 with an initial principal payment of $12,500,000 to Brookfield due on or prior to February 21, 2025. Any remaining outstanding principal amount of the Loan (the “Remaining Amount”), plus accrued interest will be repayable in cash upon the earlier of (i) October 3, 2027, (ii) the occurrence of certain change of control events or (iii) a breach of the Loan Agreement.

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Source: SEC EDGAR

accession 0001628280-25-006830

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