Global Technology Acquisition Corp. I announced that it has entered into an unsecured promissory note with new investor Global Technology Acquisition Corp. I, for the gross proceeds of $1,500,000 on June 29, 2023. The Note bears no interest. All unpaid principal under the Note will be payable on the earliest to occur of (the date on which the Company consummates an initial business combination or the date of the liquidation of the Company. In the event the Company consummates its initial business combination, the Sponsor has the option on the Maturity Date to convert up to an aggregate of $1,500,000 of the principal outstanding under the Note into that number of warrants equal to the portion of the principal amount of the Note being converted divided by $1.00. 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.

On the same date, the company announced that it has issued 10,000 in the first tranche. Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than $10,000, unless agreed upon in writing by Maker and Payee. Payee shall fund each. Drawdown Request no later than five (5) business days after receipt provided, however, that the maximum amount of drawdowns outstanding under this Note at any time may not exceed $1,500,000. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.