D AND Z MEDIA ACQUISITION CORP.

(DNZ)
Delayed Nyse  -  12:50 2022-06-23 pm EDT
9.800 USD   +0.10%
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D & Z MEDIA 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)

09/30/2021 | 04:17pm 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 September 28, 2021, D and Z Media Acquisition Corp. (the "Company") issued an unsecured promissory note (the "Note") in the principal amount of up to $1,000,000 to D and Z Media Holdings LLC (the "Sponsor"), of which $650,000 was funded by the Sponsor upon execution of the Note, which may be further drawn down from time to time prior to the Maturity Date (defined below) upon request by the Company, subject to the Sponsor's approval. The Note does not bear interest and the principal balance will be payable on the earliest to occur of (i) the date on which the Company consummates its initial business combination and (ii) the date that the winding up of the Company is effective (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 warrants ("Working Capital Warrants") equal to the portion of the principal amount of the Note being converted divided by $1.50, rounded up to the nearest whole number. The terms of the Working Capital Warrants, if any, would be identical to the terms of the private placement warrants issued by the Company at the time of its initial public offering (the "IPO"), as described in the prospectus for the IPO dated January 25, 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 D and Z Media Holdings LLC, dated
              September 28, 2021
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)




                                       1

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Financials (USD)
Sales 2021 - - -
Net income 2021 -2,16 M - -
Net cash 2021 0,38 M - -
P/E ratio 2021 -152x
Yield 2021 -
Capitalization 352 M 352 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 80,0%
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Managers and Directors
Betty Liu Chairman, President & Chief Executive Officer
Mark Gregory Wiltamuth Chief Financial Officer
Brian Thomas Grazer Independent Director
Scott P. Kurnit Independent Director
David K. Panton Independent Director
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