Cartesian Growth Corporation II announced that it will issue an unsecured promissory note with aggregate amount of up to $1,800,000 on November 6, 2023. The transaction will include participation from returning lender CGC II Sponsor LLC. The Note does not bear interest and the principal balance will be payable on the earlier to of the date on which the company consummates its initial business combination. The lender deposited an extension payment in the amount of $150,000, representing the lesser of (a) an aggregate of $150,000 and (b) $0.02 per public share that remained outstanding and unredeemed prior to the extension, which enabled the company to extend the period of time it has to consummate its initial business combination by one month from November 10, 2023 to December 10, 2023. The extension is the first of twelve one-month extensions permitted under the company?s charter. The extension is the first of twelve one-month extensions permitted under the company?s charter. 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 principal balance may be prepaid at any time. The company?s shareholders approved an amendment to the company?s amended and restated memorandum and articles of association
On the same date, the company received $150,000 in its first tranche.