SPAC Working Capital Loans definition
SPAC Working Capital Loans means the working capital loans as described in SPAC’s final prospectus, dated August 12, 2021, filed with the SEC in connection with its initial public offering.
SPAC Working Capital Loans means any loan made to SPAC by any of Sponsor, an Affiliate of Sponsor, or any of SPAC’s officers or directors, and which may be evidenced by a promissory note, for the purpose of meeting the working capital needs of SPAC.
Examples of SPAC Working Capital Loans in a sentence
Except as disclosed in the SPAC SEC Reports or in Section 4.6(b) of the SPAC Disclosure Schedules and any SPAC Working Capital Loans, there are no outstanding bonds, debentures, notes or other Indebtedness of SPAC having the right to vote (or convertible into, or exchangeable for, securities having the right to vote) on any matter for which SPAC Shareholders may vote.
In connection with, and immediately prior to the Closing, Sponsor and SPAC agree that all bona fide amounts due to Sponsor from SPAC for all loans of cash to SPAC, including the SPAC Working Capital Loans, shall be converted into SPAC Private Warrants at a stipulated value of $1.00 per SPAC Private Warrant.