AP Acquisition Corp. announced a private placement in which the company issued a promissory note in the principal amount of up to $160,000 on September 19, 2023. The transaction will include participation from new lender, AP Sponsor LLC.

The Working Capital Loan Note was issued in connection with advances the Payee may make in the future to the company for working capital expenses. The note bears no interest and is payable promptly after the date on which the company consummates an initial business combination. The issuance of the Extension Note and Working Capital Loan Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.