Loan & DebtApr 27, 2026, 04:14 PM
POLE Increases Promissory Notes to $4.375M for Working Capital
AI Summary
Andretti Acquisition Corp. II (POLE) amended and restated its promissory notes on April 27, 2026, increasing the aggregate principal amount to $4,375,000. The notes, issued to William J. Sandbrook, Michael Andretti, and William M. Brown, will be used for working capital purposes and bear no interest. Up to $1,500,000 of the principal may be converted into company units at $10.00 per unit upon the consummation of a business combination.
Key Highlights
- Amended and restated promissory notes on April 27, 2026.
- Total principal amount increased to $4,375,000 from previous individual notes totaling $1,500,000.
- Proceeds from the notes will be used for working capital purposes.
- Notes bear no interest and are due upon initial business combination or company liquidation.
- Up to $1,500,000 of principal may be converted into units at $10.00 per unit.
- Each unit consists of one Class A ordinary share and one-half of one redeemable warrant.
Price Impact
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