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Aspac II Acquisition Corp. (OTC:ASCBF) announced Monday it has entered into a material definitive agreement involving the issuance of an unsecured promissory note to its sponsor, Aspac II (Holdings) Corp. According to a statement based on a recent SEC filing, the note was issued on July 14, 2025, in the aggregate principal amount of $152,000.
The note is payable no later than the date Aspac II Acquisition Corp. completes its initial business combination. The sponsor has the option to convert the note into warrants with the same terms and conditions as the company’s public warrants, at a conversion price of $1.00 per warrant. The note does not bear interest.
The company stated that proceeds from the note will be used to pay various expenses and for working capital purposes.
Aspac II Acquisition Corp. is incorporated in the British Virgin Islands and is classified as a blank check company. Its securities, including units, Class A ordinary shares, rights, and warrants, are traded on the OTC market under the symbols ASUUF, ASCBF, ASCRF, and ASCWF, respectively.
This information is based on a press release statement included in the company’s recent SEC Form 8-K filing.
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