Feutune Light Acquisition Corporation announced a private placement to issue unsecured promissory note at an issue price of $100,000 per note for the gross proceeds of $100,000 on September 21, 2023. The transaction included participation from returning investor Feutune Light Sponsor LLC. The Note bears no interest and is payable in full upon the earlier to occur of the consummation of the Company?s business combination or the date of expiry of the term of the Company.

The following shall constitute an event of default a failure to pay the principal within five business days of the Maturity Date, the commencement of a voluntary or involuntary bankruptcy action, the breach of the Company?s obligations thereunder; any cross defaults; an enforcement proceedings against the Company; and any unlawfulness and invalidity in connection with the performance of the obligations thereunder, in which case the Note may be accelerated. The Company to extend the period of time it has to consummate its initial business combination by one month from September 21, 2023 to October 21, 2023. The September Extension is the fourth of the up to nine Monthly Extensions permitted under the Company?s Amended and Restated Certificate of Incorporation currently in effect.

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.