Item 1.01 Entry into a Material Definitive Agreement.
The information discussed under Item 2.03 of this Current Report on Form 8-K is
incorporated by reference into this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On September 8, 2022, Oxus Acquisition Corp. (the "Company") entered into
Promissory Note with the Company's sponsor, Oxus Capital PTE. LTD, pursuant to
which the Company may borrow up to an aggregate principal amount of $1,500,000.
The Promissory Note is non-interest bearing and due on the date on which the
Company consummates its initial business combination. If the Company completes a
business combination, the Company would repay any loaned amounts, without
interest, upon consummation of the business combination. In the event that a
business combination does not close, the Company may use a portion of the
working capital held outside the trust account to repay any loaned amounts but
no proceeds from the Company's trust account would be used for such repayment.
The issuance of the Promissory Note was unanimously approved by the Company's
board of directors, including all the members of the audit committee, on
September 6, 2022. As of September 13, 2022, there was no amount outstanding
under the Promissory Note.
The foregoing description of the Promissory Note is qualified in its entirety by
reference to the full text of the Promissory Note, a copy of which is filed as
Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by
reference.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements that are
based on the Company's current expectations, plans, estimates, assumptions, and
beliefs that involve numerous risks and uncertainties, as well as those risks
set forth in the "Risk Factors" section of the Company's Annual Report on
Form 10-K for the year ended December 31, 2021, as amended or supplemented by
the Company's other filings with the Securities and Exchange Commission.
Although these forward-looking statements reflect management's belief as to
future events, actual events or the Company's investments and actual results of
operations could differ materially from those expressed or implied in these
forward-looking statements. To the extent that the Company's assumptions differ
from actual results, the Company's ability to meet such forward-looking
statements may be significantly hindered. You are cautioned not to place undue
reliance on any forward-looking statements
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Description
10.1 Promissory Note Dated September 8, 2022
104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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