Edoc Acquisition Corp. announced a private placement of a promissory note for gross proceeds of up to $500,000 on October 6, 2022. The transaction will include participation from returning lender, American Physicians LLC. The note bears no interest and is repayable in full upon the earlier of the date of the consummation of the business combination, or the date of the liquidation of the company. The notes were issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933. The principal amount of the note may be drawn down from time to time prior to the maturity date, upon written request from Maker to Payee
and shall be subject to the approval of the draw down request by Payee in its sole discretion. Each draw down must not be an amount less than $10,000. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker. All payments on this note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the company.