AP Acquisition Corp. announced that it has issued a promissory note for gross proceeds of $500,000 on January 12, 2024. The transaction included participation from returning lender, AP Sponsor LLC.

The principal amount of the note is $500,000. The Note bears no interest and is payable promptly after the date on which the Company consummates an initial business combination. The Working Capital Loan Note was issued in connection with advances the lender may make in the future to the Company for working capital expenses.

The issuance of the 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.