debt
confidence high
sentiment neutral
materiality 0.35
Rigel Resource Acquisition Corp obtains $1M working capital loan from sponsor
Rigel Resource Acquisition Corp.
- Promissory note dated Aug 4, 2025 with sponsor Rigel Resource Acquisition Holding LLC for up to $1,000,000.
- Loan carries no interest; repayable upon earlier of business combination completion or charter deadline.
- Proceeds are for general working capital purposes.
- Sponsor waives any claim against the company's IPO trust account under the note.
- Outstanding advances are documented on a schedule; minimum drawdown $10,000 unless otherwise agreed.
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