Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Metal Sky Star Acquisition Corp incurred loan of up to $1,000,000; $383,333 drawn on January 4, 2023 with M-Star Management Corp. (the Sponsor) at no interest maturing earlier of December 31, 2023 or consummation of initial business combination.
- Instrument
- loan
- Principal
- up to $1,000,000; $383,333 drawn on January 4, 2023
- Counterparty
- M-Star Management Corp. (the Sponsor)
- Rate
- no interest
- Maturity
- earlier of December 31, 2023 or consummation of initial business combination
- Event
- incurrence
Exact text from the filing
On January 3, 2023, the Company issued a promissory note (the “ Note ”) in the principal amount of up to $1,000,000 to M-Star Management Corp. (the “ Sponsor ”), pursuant to which the Sponsor shall loan to the Company up to $1,000,000 to pay the extension fee and transaction cost. On January 4, 2023, the Company requested to draw the funds of $383,333 and deposited it into the trust account to extend the period of time the Company has to consummate a business combination by one month to February 5, 2023. The $383,333 extension fee represents approximately $0.033 per public share. The Notes bear no interest and are repayable in full upon the earlier of (a) December 31, 2023 or (b) the date of the consummation of the Company’s initial business combination.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Metal Sky Star Acquisition Corp entered into Promissory Note with M-Star Management Corp. valued at Up to $1,000,000 principal amount, no interest, repayable upon the earlier of December 31, 2023 or t (effective 2023-01-03).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- M-Star Management Corp.
- Value
- Up to $1,000,000 principal amount, no interest, repayable upon the earlier of December 31, 2023 or t
- Effective
- 2023-01-03
Exact text from the filing
On January 3, 2023, the Company issued a promissory note (the “ Note ”) in the principal amount of up to $1,000,000 to M-Star Management Corp. (the “ Sponsor ”), pursuant to which the Sponsor shall loan to the Company up to $1,000,000 to pay the extension fee and transaction cost.
View on SEC.gov