Loan & DebtNov 10, 2026, 04:18 PM
Texas Ventures Acquisition III Corp Secures Up To $750K Working Capital Note
AI Summary
Texas Ventures Acquisition III Corp has entered into an amended and restated convertible unsecured promissory note agreement with its Sponsor, Yorkville Acquisition Sponsor II, LLC. The note allows for additional working capital of up to $750,000, superseding a prior note of $250,000. The principal amount does not accrue interest and is payable upon the company's initial business combination or winding up. The Sponsor has the option to convert the principal into units at $10.00 per unit, with each unit comprising a Class A ordinary share and a warrant.
Key Highlights
- Texas Ventures Acquisition III Corp issued an amended and restated convertible unsecured promissory note (A&R Working Capital Note) for up to $750,000.
- The note is convertible at the Sponsor's election into units at $10.00 per unit upon consummation of the initial business combination.
- Each unit consists of one Class A ordinary share and one-half of a redeemable warrant exercisable at $11.50.
- The principal balance of the note does not accrue interest and is payable upon the earlier of the business combination or winding up.
- The company relied on Section 4(a)(2) of the Securities Act for the issuance of the note.
Price Impact
More from TVA