Collective Acquisition entered into an unsecured, non-interest-bearing promissory note of up to $500,000 with Collective Acquisition Sponsor to fund costs tied to its initial business combination. The note matures upon completion of the business combination or the company’s winding up, and is repayable only from funds outside the trust if no merger occurs. The sponsor may convert any outstanding principal into private placement warrants at $1.00 per warrant, enhancing the company’s financing flexibility.
Agreement details:
- Agreement type: Unsecured, non-interest-bearing promissory note with warrant conversion option
- Counterparty: Collective Acquisition Sponsor
- Signed / Effective: Jul 17 2026 / same
- Duration / Termination: Until business combination or winding up
- Reason: Finance costs for initial business combination
Original SEC Filing:
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