ARYA Sciences Acquisition IV (ARYD) has released an update to notify the public and investors about an entry into a material definitive agreement.
ARYA Sciences Acquisition Corp IV has secured a $1,000,000 unsecured convertible loan from its Sponsor to fund general corporate needs and trust account deposits, extending the time for completing a business combination. This loan can transform into Class A ordinary shares at $10 each, mirroring the terms of shares from the initial public offering. Interest-free, the loan is repayable upon a business combination’s success or from outside trust funds if no such transaction occurs, with provisions for early repayment in case of default.
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For a comprehensive understanding of the announcement, you can read the full document here.
