Bannix Acquisition Corp.: debt financing — Bannix Acquisition Corp. issues $189,975 in promissory notes to EVIE Autonomous Group

Bannix Acquisition Corp.

Issued unsecured promissory notes totaling $189,975 to EVIE Group on Aug 4 and Aug 8, 2023.
Notes bear no interest, repayable upon consummation of business combination or at liquidation.
If no business combination by Deadline Date, notes repayable only from funds outside trust account or forgiven.
Notes issued under June 23, 2023 Business Combination Agreement to acquire 100% of EVIE Group.
EVIE Group develops universally controllable electric vehicle platform for delivery, transport, cargo, and machine ops.

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

Bannix Acquisition Corp. incurred loan of $189,975 with EVIE Group at no interest maturing the earlier of (a) the date of the consummation of the Company's initial business combination, or (b) the date of the Company's liquidation.

Instrument: loan
Principal: $189,975
Counterparty: EVIE Group
Rate: no interest
Maturity: the earlier of (a) the date of the consummation of the Company's initial business combination, or (b) the date of the Company's liquidation
Event: incurrence

Exact text from the filing

on August 4, 2023 and on August 8, 2023, the Company issued to EVIE Group unsecured promissory notes in the aggregate principal amount of $189,975 (the “Notes”). The Notes bears no interest and is repayable in full upon the earlier of (a) the date of the consummation of the Company’s initial business combination, or (b) the date of the Company’s liquidation.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Bannix Acquisition Corp. entered into Business Combination Agreement with EVIE Autonomous Group Ltd (effective 2023-06-23).

Action: entry
Agreement: merger
Counterparty: EVIE Autonomous Group Ltd
Effective: 2023-06-23

Exact text from the filing

On June 23, 2023, Bannix Acquisition Corp., a Delaware corporation (the “ Company ”), entered into a Business Combination Agreement (the “ Business Combination Agreement ”) with EVIE Autonomous Group Ltd, a private company formed under the Laws of England and Wales (“EVIE Group”) and the shareholder of EVIE (the “ EVIE Shareholder ”) pursuant to which the Company will acquire 100% of the outstanding equity interests of EVIE (the “Transaction”).

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Source: SEC EDGAR

accession 0001731122-23-001410

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