Jaws Mustang Acquisition : New Financial Obligation - Form 8-K

Item 1.01.

Entry into a Material Definitive Agreement.

On March 13, 2024, JAWS Mustang Acquisition Corporation (the "Company" or "Jaws") issued a promissory note (the "Note") in the principal amount of up to $500,000 to Mustang Sponsor LLC (the "Payee"). The Note does not bear interest and matures upon consummation of the Company's initial business combination. In the event that the Company does not consummate an initial business combination, the Note will be repaid only from funds remaining outside of the Company's trust account established in connection with the initial public offering of the Company's securities, if any, or will be contributed to capital, forfeited, eliminated, or otherwise forgiven.

The foregoing description is qualified in its entirety by reference to the Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.