secwatch.observer — SEC 8-K summary
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Issuer:     Perception Capital Corp. III (—)
CIK:        0001853580
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001829126-23-005154
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1853580/000182912623005154/0001829126-23-005154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1853580/000182912623005154/portagefintech_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-005154

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer