BITE ACQUISITION CORP.

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BITE ACQUISITION CORP. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

02/16/2022 | 04:03pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

The information provided in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On February 10, 2022, Bite Acquisition Corp. (the "Company") issued an unsecured promissory note (the "Note") in the principal amount of up to $350,000 to Smart Dine LLC (the "Sponsor"), a significant stockholder of the Company, which may be drawn down from time to time prior to the Maturity Date (defined below) upon request by the Company. The Note does not bear interest and the principal balance will be payable on the date on which the Company consummates its initial business combination (such date, the "Maturity Date"). In the event the Company consummates its initial business combination, the Sponsor has the option on the Maturity Date to convert all or any portion of the principal outstanding under the Note into that number of units ("Working Capital Units") equal to the portion of the principal amount of the Note being converted divided by $10.00, rounded up to the nearest whole number. The terms of the Working Capital Units, if any, would be identical to the terms of the private placement units issued by the Company at the time of its initial public offering (the "IPO"), as described in the prospectus for the IPO dated February 11, 2021 and filed with the U.S. Securities and Exchange Commission, including the transfer restrictions applicable thereto. The Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable.

The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

The foregoing description of the Note is qualified in its entirety by reference to the full text of the Note, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.




(d)    Exhibits.



Exhibit No.   Description
  10.1          Promissory Note issued in favor of Smart Dine LLC, dated February
              10, 2022

104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)




                                       2

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Financials (USD)
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 251 M 251 M -
EV / Sales -1
EV / Sales 0
Nbr of Employees -
Free-Float 78,5%
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Alberto Ardura González Chief Executive Officer & Director
Axel Molet Warschawski Chief Financial Officer
Rafael Felipe Aguirre Gomez Chairman
Randall Hiatt Independent Director
Joseph C. Essa Independent Director
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