Loan & DebtMay 12, 2026, 04:22 PM
Pono Capital Four Issues $100K Unsecured Promissory Note
AI Summary
Pono Capital Four, Inc. issued an unsecured promissory note for up to $100,000 to its sponsor, Mehana Capital LLC, as of May 6, 2026. The funds are designated to cover costs associated with the company's initial business combination. The note is interest-free and is due upon the completion of the business combination, with repayment limited to funds outside the trust account if no combination occurs.
Key Highlights
- Pono Capital Four issued an unsecured promissory note to Mehana Capital LLC.
- The note is for a principal amount of up to $100,000.
- Funds are for costs reasonably related to the company's initial business combination.
- The promissory note bears no interest.
- The note is payable in full upon the consummation of the initial business combination.
- If no business combination, repayment is limited to funds outside the trust account.
- The company can draw down on the note up to the $100,000 principal amount.
Price Impact
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