BLUE WORLD ACQUISITION CORPORATION Blue World Acquisition Corporation announced a private placement that it has issued an unsecured convertible promissory note for the principle amount of $180,000 on April 1, 2024. The transaction included participation from returning investor, Blue World Holdings Limited. Each of the Note bears no interest and is payable in full upon the consummation of BWAQ?s business combination.
The payees of the Notes, respectively, have the right, but not the obligation, to convert their Notes, in whole or in part, respectively, into private units of BWAQ, each consisting of one Class A ordinary share, one-half of one warrant, and one right to receive one-tenth of one Class A ordinary share upon the consummation of a business combination. The issuance of the Notes was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.
