Jack Creek Investment Corp announced a private placement of an unsecured promissory note in the amount of up to $1,500,000 on February 16, 2022. The transaction included participation from existing investor JCIC Sponsor LLC. The note bears no interest and is repayable in full upon the earlier to occur of the consummation of the Company's initial business combination and the winding up of the Company.

The note also provides that all or any portion of the note may be converted into a number of warrants, at a price of $1.00 per warrant, at the option of the investor and at any time prior to payment in full of the outstanding principal amount of the note.