Black Hawk Acquisition issues up to $300K convertible note to sponsor at 10% interest

Black Hawk Acquisition Corp

• Principal amount up to $300,000; interest accrues at 10% per annum from April 20, 2026.
• Note due and payable upon closing of a business combination (DeSPAC) or liquidation of the company.
• Sponsor may convert unpaid principal into ordinary shares at $1.00 per share upon DeSPAC.
• Proceeds used for working capital expenses; note is unsecured and sponsor waives trust account claims.
• Holder entitled to registration rights for conversion shares post-DeSPAC.