Perception Capital Corp. II announced that it has issued a convertible promissory note for gross proceeds of $720,000 on October 31, 2022. The transaction will include participation from returning investor Perception Capital Partners II LLC.

At the option of investor, at any time on or prior to the maturity date, any unpaid principal amount outstanding under this note up to $720,000 in the aggregate may be converted into whole warrants to purchase Class A ordinary shares at a conversion price equal to $1.00 per Warrant. If payee elects such conversion, the terms of such warrants issued in connection with such conversion shall be identical to the warrants issued to payee pursuant to the sponsor warrants purchase agreement, dated as of October 27, 2021, in connection with initial public offering that was consummated on November 1, 2021, including that each warrant will entitle the holder thereof to purchase one Class A ordinary share of Maker at a price of $11.50 per share, subject to the same adjustments applicable to the private placement warrants.