DP Cap Acquisition Corp I secures $1 million working capital loan from Highview Bridge

DP Cap Acquisition Corp I (NASDAQ:DPCS) announced Tuesday it has entered into a loan agreement with Highview Bridge LLC for up to $1 million in working capital. The arrangement was disclosed in a press release statement and detailed in a recent SEC filing. For investors interested in comprehensive SPAC analysis and tracking tools, InvestingPro offers detailed metrics and real-time updates on special purpose acquisition companies.

According to the filing, the loan is evidenced by a non-interest-bearing promissory note. Repayment is due upon the completion of a business combination, which may include a merger, share exchange, asset acquisition, or similar transaction involving DP Cap Acquisition Corp I.

Highview Bridge LLC has the option, but not the obligation, to convert any or all of the outstanding principal into warrants upon the closing of a business combination. Each warrant would entitle the holder to purchase one Class A ordinary share of DP Cap Acquisition Corp I at a conversion price of $1.50 per share. The warrants would be identical to those issued in the company’s initial public offering.

If DP Cap Acquisition Corp I does not complete a business combination, the note will not be repaid and all outstanding amounts will be forgiven, except to the extent that the company has funds available outside of its trust account.

The company stated the issuance of the note is exempt from registration under Section 4(a)(2) of the Securities Act of 1933. Details of the promissory note were included as an exhibit to the SEC filing.

DP Cap Acquisition Corp I is a blank check company incorporated in the Cayman Islands. Its securities, including Class A ordinary shares and warrants, are listed on NASDAQ under the symbols DPCS and DPCSW, respectively. Investors can track potential merger targets and analyze SPAC performance using InvestingPro’s comprehensive SPAC screening and monitoring tools.

This report is based on information disclosed in a press release statement and the company’s SEC filing.

In other recent news, DP Cap Acquisition Corp I has appointed Aloba, Awomolo & Partners as its new independent registered public accounting firm. This decision was approved by the company’s board of directors on August 12, 2025, as per a recent SEC filing. The filing noted that during the fiscal years ending December 31, 2024, and December 31, 2023, as well as the interim period through August 12, 2025, there were no consultations with Aloba, Awomolo & Partners regarding the application of accounting principles or the type of audit opinion for the company’s financial statements. The change in the independent auditor is a significant development for DP Cap Acquisition Corp I, as it can impact the company’s financial reporting and auditing processes. The company did not disclose any specific reasons for the change in auditors. Aloba, Awomolo & Partners will be responsible for conducting audits and ensuring compliance with accounting standards. This development is part of the company’s ongoing efforts to maintain transparency and accountability in its financial reporting.

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