debt
confidence high
sentiment neutral
materiality 0.40
Quetta Acquisition issues $500K promissory note to Holder in connection with proposed transaction
Quetta Acquisition Corp
- Issued $500,000 unsecured non-interest bearing promissory note to a Cayman Island corporation (Holder) on Nov 5, 2024.
- Note payable on earliest of consummation of proposed transaction, breach, termination of discussions, or expiration of Combination Period.
- Holder has right to convert outstanding amount into common stock or other securities upon consummation of proposed transaction.
- Proceeds used for general working capital; note governed by Hong Kong law with arbitration in Hong Kong.
- Note automatically becomes due upon events of default such as payment failure or bankruptcy.