Cartesian Growth Corp II issues $250,000 promissory note

Published 28/05/2025, 11:52
Cartesian Growth Corp II issues $250,000 promissory note

Cartesian Growth Corporation II ("the Company"), a blank check company, has entered into an agreement on Monday, issuing an unsecured promissory note to CGC II Sponsor LLC ("the Sponsor"). The note, which amounts to $250,000, will mature on the earlier of two events: the consummation of the Company’s initial business combination or the effective date of the Company’s winding up.

The note does not accrue interest and its principal is due on the maturity date, which is the sooner of the two events mentioned. Additionally, the Sponsor has the option to convert any or all of the principal amount into warrants at a rate of $1.00 per warrant on the maturity date. These warrants, if issued, would have the same terms as the private placement warrants issued during the Company’s initial public offering (IPO) on May 5, 2022.

In case of default, the unpaid principal and any other payable sums will become due immediately. The issuance of this note is exempt from registration under Section 4(a)(2) of the Securities Act of 1933.

The Company’s filing with the U.S. Securities and Exchange Commission provides further details on the note. This move is part of the Company’s financial arrangements as it continues to seek a business combination target. The information in this article is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.