secwatch.observer — SEC 8-K summary
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Issuer:     Rigel Resource Acquisition Corp. (—)
CIK:        0001860879
Form:       8-K
Filed at:   2023-12-29T23:59:59+00:00
Accession:  0001829126-23-008315
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rigel Resource Acquisition Corp secures $1.5M working capital loan, amends extension loans adding Orion as payee
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- December 2023 Working Capital Loan: up to $1.5M from sponsor, non-interest bearing, due at earlier of business combination deadline or consummation.
- Amended and Restated Extension Loans: $3M and $4.2M convertible notes now include Orion Mine Finance GP III LP as additional payee.
- Warrants issuable upon conversion of extension loans are unregistered and identical to existing private placement warrants.
- Proceeds from working capital loan to be used for general working capital purposes; no interest accrues.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860879/000182912623008315/0001829126-23-008315-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860879/000182912623008315/rigelresourceacq_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-23-008315

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