Loan & DebtAug 4, 2026, 01:51 PM
Columbus Acquisition Corp. Issues $50K Notes for Business Combo Extension
AI Summary
Columbus Acquisition Corp. extended its deadline to complete its initial business combination by one month, from June 22, 2026, to July 22, 2026. This extension required a $50,000 Monthly Extension Fee, which was split equally between the company's Sponsor, Hercules Capital Management VII Corp, and the Target, WISeSat.Space Corp. The company subsequently issued unsecured promissory notes for $25,000 each to the Sponsor and the Target, which are non-interest bearing and convertible into private units at $10.00 per unit.
Key Highlights
- Extended business combination deadline by one month to July 22, 2026.
- Paid a $50,000 Monthly Extension Fee into the trust account.
- Sponsor, Hercules Capital Management VII Corp, paid $25,000 of the fee.
- Target, WISeSat.Space Corp., paid the remaining $25,000 of the fee.
- Issued a $25,000 unsecured promissory note to the Sponsor.
- Issued a $25,000 unsecured promissory note to the Target.
- Notes are non-interest bearing and convertible into private units at $10.00 per unit.
Price Impact
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