E.Merge Technology Acquisition Corp. announced that it has entered into a material definitive agreement for the private placement of a promissory note for gross proceeds of up to $500,000 to existing investor, E.Merge Technology Sponsor LLC on April 1, 2022. The note may be converted into units of the company at a price of $10 per unit.

The principal balance of this note shall be payable on the earliest to occur of (i) the date on which Maker consummates its initial business combination and (ii) the date that the winding up of Maker is effective. The principal balance may be prepaid at any time, at the election of Maker. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

The note shall be non-interest bearing. 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.