Andretti Acquisition Corp. announced a private placement to issue three separate 4.50% unsecured promissory notes for the gross proceeds of $1,100,000 on March 21, 2023. The transaction included participation from individual investors Michael M. Andretti for $500,000, William J. Sandbrook for 500,000 and William M. Brown for 100,000.

The Notes bear interest at a rate of 4.50% per annum and shall be due and payable on the earlier of the date on which the Company consummates an initial business combination and liquidation of the Company in accordance with its amended and restated memorandum.