Battery Future Acquisition Corp.: debt financing — Battery Future Acquisition Corp. issues $150K convertible note to Pala Investments

Battery Future Acquisition Corp.

Issued $150,000 convertible promissory note to Pala Investments Limited.
Note bears 10% interest per annum; matures at business combination or liquidation.
Pala may convert outstanding amounts into warrants at $1.00 per warrant, identical to private placement warrants.
Proceeds used for working capital purposes.
If no business combination, note repaid only from funds outside trust account.

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

Battery Future Acquisition Corp. incurred convertible notes of $150,000 with Pala Investments Limited at 10.00% per annum maturing the earlier of (i) the date of BFAC's liquidation and (ii) the date on which the business combination is consummated.

Instrument: convertible notes
Principal: $150,000
Counterparty: Pala Investments Limited
Rate: 10.00% per annum
Maturity: the earlier of (i) the date of BFAC's liquidation and (ii) the date on which the business combination is consummated
Event: incurrence

Exact text from the filing

On December 20, 2023, Battery Future Acquisition Corp. (“BFAC”) issued an unsecured convertible promissory note in the aggregate principal amount of $150,000 (the “Note”) to Pala Investments Limited (“Pala”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Battery Future Acquisition Corp. entered into Note with Pala Investments Limited valued at principal amount of $150,000 (effective 2023-12-20).

Action: entry
Agreement: notes offering
Counterparty: Pala Investments Limited
Value: principal amount of $150,000
Effective: 2023-12-20

Exact text from the filing

On December 20, 2023, Battery Future Acquisition Corp. (“BFAC”) issued an unsecured convertible promissory note in the aggregate principal amount of $150,000 (the “Note”) to Pala Investments Limited (“Pala”).

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Source: SEC EDGAR

accession 0001829126-23-008160

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