SCVX Corp. announced a private placement of unsecured promissory note for principal amount of $500,000 on February 23, 2022. The transaction will include participation from SCVX USA LLC.

The note bears interest at a rate of 0.59% per annum and is repayable on the earlier to occur of the closing of a business combination and July 28, 2022, which is the date by which the company must either consummate a business combination or cease all operations except for the purpose of winding up. The note is subject to customary events of default, the occurrence of which automatically trigger the unpaid principal balance of the Note and all other sums payable with regard to the note becoming immediately due and payable.