Yotta Acquisition Corp: debt financing — Yotta Acquisition extends business combination deadline to Aug 22, 2023 with $120k trust deposit

Yotta Acquisition Corp

Deposited $120,000 into trust account to extend combination period from July 22 to August 22, 2023.
Issued $160,000 unsecured promissory note to sponsor Yotta Investment LLC; proceeds deposited into trust.
Note bears no interest and matures upon closing of a business combination.
Extension provides additional time to complete a merger, share exchange, or similar transaction.

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

Yotta Acquisition Corp incurred loan of $160,000 with Yotta Investment LLC at does not bear interest maturing matures upon the closing of a business combination by the Company.

Instrument: loan
Principal: $160,000
Counterparty: Yotta Investment LLC
Rate: does not bear interest
Maturity: matures upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On July 18, 2023, Yotta Acquisition Corporation (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $160,000 (the “Note”) to Yotta Investment LLC, the Company’s initial public offering sponsor (“Sponsor”) and received $120,000.

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Source: SEC EDGAR

accession 0001829126-23-004857

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