Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On
Pursuant to the Loan Agreement, the Lender agreed, subject to the terms and
conditions set forth in the Loan Agreement, to loan the Company an aggregate
amount of
The Guarantors have jointly and severally guaranteed the repayment of the Loan to the Lender and the performance by the Company of all of its duties and obligations under the Loan Agreement. The Loan is secured by a first-priority security interest in the 1,725,000 ordinary shares of the Company held by the Sponsor, up to the amount of the Loan.
The proceeds of the Loan have been deposited in the Company's trust account in
connection with extending the business combination completion window until
The Loan Agreement also provides for the issuance to the Lender of 25,000 shares of common stock of the post-business combination company no later than the maturity date, and also provides for customary registration rights for such shares.
The foregoing description is qualified in its entirety by reference to the Loan Agreement, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits: Exhibit No. Description 10.1 Form of Loan Agreement. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) 3
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