Evo Acquisition Corp. announced that it has issued a promissory note for gross proceeds of $1,500,000 on April 6, 2022. The transaction will include participation from Evo Sponsor Llc.

The note bears no interest and is due and payable on the date on which the Company consummates its initial business combination. At the election of the investor, all or a portion of the unpaid principal amount of the note may be converted into warrants at a price of $1.00 per warrant. The conversion warrants would be identical to the warrants issued by the company to the investor in a private placement in connection with the company's initial public offering.