HH&L ACQUISITION CO. HH&L Acquisition Co. announced that it has issued an unsecured convertible promissory note for gross proceeds of $3,000,000 to Hh&L Investment Co on June 7, 2023. The initial principal balance of this Note of $270,000.
The loan can be converted into warrants to purchase class A ordinary shares of the company at a price of $1 per warrant, each warrant can be exercised to purchase a class A ordinary share at a price of $11.5 per share. The loan does not bear interest and its maturity date may be accelerated if the company defaults.
