---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-005154"
form_type: "8-K"
ticker: null
cik: "0001853580"
company_name: "Perception Capital Corp. III"
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T04:56:34.455054+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Portage Fintech secures up to $1.5M working capital loan from Polar Multi-Strategy Master Fund

## Summary
- Investor commits up to $1.3M (plus optional $200K) to Sponsor, loaned to SPAC for working capital.
- SPAC will issue 0.9 Class A shares per dollar funded at De-SPAC closing; shares have no lock-up.
- Loan is non-interest bearing, repaid at closing; Sponsor passes proceeds to Investor within 5 days.
- If default, Sponsor transfers 0.1 shares per $1 funded (monthly escalation) up to 1.35M shares.
- SPAC extended business combination deadline to July 23, 2024; this funding supports ongoing operations.

## SEC filing metadata
- accession: 0001829126-23-005154
- form_type: 8-K
- cik: 0001853580
- company_name: Perception Capital Corp. III
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: other_material
- 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/1853580/000182912623005154/0001829126-23-005154-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853580/000182912623005154/portagefintech_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-005154
- JSON: https://secwatch.observer/filing/0001829126-23-005154.json
- Plain text: https://secwatch.observer/filing/0001829126-23-005154.txt

## Key facts
- Debt Financings
  Perception Capital Corp. III incurred loan of $1,300,000 with Perception Capital Partners IIIA, LLC at will not accrue interest maturing upon the closing of the Company's initial business combination.
  - Instrument: loan
  - Principal: $1,300,000
  - Counterparty: Perception Capital Partners IIIA, LLC
  - Rate: will not accrue interest
  - Maturity: upon the closing of the Company's initial business combination
  - Event: incurrence
  source text: On August 1, 2023, Portage Fintech Acquisition Corporation (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with Polar Multi-Strategy Master Fund (the “Investor”) and Perception Capital Partners IIIA, LLC (the “Sponsor” and, together with the Company and Investor, the “Parties”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623005154/0001829126-23-005154-index.htm
- Material Agreements
  Perception Capital Corp. III entered into Subscription Agreement with Polar Multi-Strategy Master Fund and Perception Capital Partners IIIA, LLC valued at $1,300,000 (effective 2023-08-01).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Polar Multi-Strategy Master Fund and Perception Capital Partners IIIA, LLC
  - Value: $1,300,000
  - Effective: 2023-08-01
  source text: On August 1, 2023, Portage Fintech Acquisition Corporation (the “Company”) entered into a Subscription Agreement (the “Subscription Agreement”) with Polar Multi-Strategy Master Fund (the “Investor”) and Perception Capital Partners IIIA, LLC (the “Sponsor” and, together with the Company and Investor, the “Parties”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623005154/0001829126-23-005154-index.htm

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