Loan & DebtMay 11, 2026, 05:07 PM
Columbus Acquisition Corp Issues $100K Promissory Note to WISeSat.Space
AI Summary
Columbus Acquisition Corp issued an unsecured promissory note for $100,000 to WISeSat.Space Corp. on May 5, 2026. This note is in connection with WISeSat.Space Corp. covering $100,000 of the Monthly Extension Fees, which allow Columbus Acquisition Corp to extend the period to complete its initial business combination. The note bears no interest and provides the payee with options to convert the outstanding obligations into private units or, under certain conditions, into common shares of the post-closing public company.
Key Highlights
- Columbus Acquisition Corp issued an unsecured promissory note for $100,000 to WISeSat.Space Corp.
- The note covers $100,000 in Monthly Extension Fees for the business combination agreement.
- WISeSat.Space Corp. deposited $100,000 into the Trust Account through four $25,000 deposits.
- The promissory note bears no interest and is payable upon specific events, including business combination consummation.
- Payee has the option to convert outstanding obligations into private units at $10.00 per unit.
- Alternatively, if the BCA terminates, payee can convert to common shares at $5.00 per share.
Price Impact
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