Range Capital Acquisition Corp. issued an unsecured promissory note of up to $1,500,000 to an affiliate for working capital, convertible into units upon a business combination.
Key takeaways
The Company issued an unsecured promissory note with a principal amount of up to $1,500,000 to Range Capital Holdings, LLC, an affiliate.
The Note does not bear interest and matures upon the consummation of the Company's initial business combination.
The Payee may convert outstanding principal into Working Capital Units at $10.00 per unit at their option on the Maturity Date.
The issuance was made pursuant to the Section 4(a)(2) exemption under the Securities Act of 1933.
The Note contains customary events of default, with bankruptcy-related events triggering automatic acceleration.