LAMF Global Ventures Corp. I Class A (LGVC) has released an update to notify the public and investors about an entry into a material definitive agreement.
On February 2, 2024, LAMF Global Ventures Corp. I issued an unsecured promissory note allowing it to borrow up to $1.2 million from its Sponsor, LAMF SPAC Holdings I LLC, for business-related expenses and to facilitate its initial business combination. The note carries no interest and is due at the earlier of the business combination’s completion or the company’s liquidation. The Company can prepay without penalty, and post-combination, the Sponsor can convert the outstanding balance into units at $10 each, which have corresponding registration rights.
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For a comprehensive understanding of the announcement, you can read the full document here.
