Black Hawk Acquisition Corp. issued a convertible promissory note for up to $300,000 to its Sponsor Black Hawk Management LLC to fund working capital expenses.
Key takeaways
Issued convertible promissory note up to $300,000 principal to Sponsor on May 4, 2026.
Bears 10% per annum interest starting April 20, 2026.
Repayable in cash upon liquidation or at Sponsor's election upon DeSPAC Transaction.
Convertible into post-combination ordinary shares at $1.00 per share if elected.
Unsecured; Sponsor waived claims against trust account.
Issued under Section 4(a)(2) exemption; conversion shares have registration rights.