Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On January 7, 2020, 8i Enterprises Acquisition Corp (the "Company") issued an
unsecured promissory note in the aggregate principal amount of up to $70,000
(the "Note") to 8i Enterprises Pte Ltd, an entity controlled by the Company's
Chairman and Chief Executive Officer ("Enterprises"). The Note does not bear
interest and matures upon closing of a business combination by the Company. The
Note is convertible into units consisting of one ordinary share, one redeemable
warrant, and one right to receive one-tenth (1/10) of an ordinary share upon the
consummation of an initial business combination (which securities have terms
equivalent to the terms of the private placement securities issued in connection
with the Company's initial public offering) at a price of $10.00 per share at
the closing of a business combination. In the event that the company does not
close a business combination, the note will not be repaid.
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