Loan & DebtJun 24, 2026, 05:27 PM
Spring Valley Acquisition III Issues $1.5M Promissory Note
AI Summary
Spring Valley Acquisition Corp. III issued an unsecured promissory note for up to $1,500,000 to its sponsor, Spring Valley Acquisition Sponsor III, LLC. The note does not bear interest and its principal balance is payable upon the company's initial business combination. The sponsor has the option to convert all or a portion of the outstanding principal into Working Capital Warrants at a rate of $0.90 per warrant.
Key Highlights
- Spring Valley Acquisition Corp. III issued an unsecured promissory note.
- The note is for a principal amount of up to $1,500,000.
- The note was issued to Spring Valley Acquisition Sponsor III, LLC.
- The promissory note does not bear interest.
- Principal is payable upon the company's initial business combination.
- Sponsor has the option to convert principal into Working Capital Warrants.
- Conversion rate is $0.90 per warrant, rounded up to the nearest whole number.
Price Impact
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