---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-002643"
form_type: "8-K"
ticker: null
cik: "0001853580"
company_name: "Perception Capital Corp. III"
filed_at: "2023-04-11T23:59:59+00:00"
generated_at: "2026-06-17T03:50:31.579993+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# SPAC Portage Fintech borrows $1.25M from sponsor via promissory note

## Summary
- Promissory note with sponsor PFTA I LP allows borrowing up to $1,250,000, drawn in full on April 5, 2023.
- Note is non-interest bearing, due the earlier of July 23, 2023 or a business combination.
- Proceeds used to fund working capital expenses prior to any initial business combination.
- Sponsor waives any claim against the trust account; repayment comes from trust proceeds upon deal close.

## SEC filing metadata
- accession: 0001829126-23-002643
- form_type: 8-K
- cik: 0001853580
- company_name: Perception Capital Corp. III
- filed_at: 2023-04-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1853580/000182912623002643/0001829126-23-002643-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853580/000182912623002643/portagefintech_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-002643
- JSON: https://secwatch.observer/filing/0001829126-23-002643.json
- Plain text: https://secwatch.observer/filing/0001829126-23-002643.txt

## Key facts
- Debt Financings
  Perception Capital Corp. III incurred loan of up to $1,250,000 with PFTA I LP at non-interest bearing maturing on the earlier of July 23, 2023 and the date on which the Company consummates a business combination.
  - Instrument: loan
  - Principal: up to $1,250,000
  - Counterparty: PFTA I LP
  - Rate: non-interest bearing
  - Maturity: on the earlier of July 23, 2023 and the date on which the Company consummates a business combination
  - Event: incurrence
  source text: On April 5, 2023, Portage Fintech Acquisition Corporation (the “Company”) issued a promissory note (the “Promissory Note”) to its sponsor, PFTA I LP, an Ontario limited partnership (the “Sponsor”), pursuant to which the Company may borrow up to $1,250,000 from the Sponsor to fund the Company’s working capital expenses prior to completion of any potential initial business combination. Also on April 5, 2023, the Company made a draw on the Promissory Note of $1,250,000. The Promissory Note is non-interest bearing and payable on the earlier of July 23, 2023 and the date on which the Company consummates a business combination.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623002643/0001829126-23-002643-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.