Bannix Acquisition Corp.: debt financing — Bannix Acquisition Corp. issues $100K unsecured promissory note to EVIE affiliate

Bannix Acquisition Corp.

Issued $100,000 unsecured promissory note to Evie Autonomous Group Ltd, an affiliate of EVIE Group.
Note bears no interest; principal repayable upon initial business combination or liquidation.
Note issued under Business Combination Agreement dated June 23, 2023 to acquire 100% of EVIE.
If no business combination by deadline, note repaid only from funds outside trust account or forgiven.

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 $100,000 with Evie Autonomous Group Ltd at bears no interest maturing 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.

Instrument: loan
Principal: $100,000
Counterparty: Evie Autonomous Group Ltd
Rate: bears no interest
Maturity: 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
Event: incurrence

Exact text from the filing

the Company issued to Evie Autonomous Group Ltd, an affiliate of EVIE Group, an unsecured promissory note in the aggregate principal amount of $100,000 (the " Note "). The Note 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

Bannix Acquisition Corp., a Delaware corporation (the “ Company ”), entered into a Business Combination Agreement (the “ Business Combination Agreement ”) with EVIE Autonomous Group Ltd

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Source: SEC EDGAR

accession 0001731122-23-001711

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