Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On June 13, 2022, Jiya Acquisition Corp. (the "Company") issued an unsecured promissory note (the "Note") in the amount of up to $1,500,000 to Samsara BioCapital, L.P. (the "Lender"). The proceeds of the Note, which may be drawn down from time to time until the Company consummates its initial business combination, will be used as general working capital purposes.

The Note bears no interest and is payable in full upon the earlier to occur of (i) November 23, 2022 or (ii) the consummation of the Company's initial business combination. The Note is required to be repaid in cash and is not convertible into shares of common stock or warrants exercisable for shares of common stock. A failure to pay the principal within five business days of the date specified above or the commencement of a voluntary or involuntary bankruptcy action shall be deemed an event of default, in which case the Lender may declare the Note due and payable immediately. 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.

A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosures set forth in this Item 2.03 are intended to be summaries only and are qualified in their entirety by reference to the Note.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits



Exhibit No.                               Description
   10.1         Promissory Note dated June 13, 2022, issued by Jiya Acquisition
              Corp. to Samsara BioCapital, L.P.

    104       Cover Page Interactive Data File - the cover page interactive data
              file does not appear in the Interactive Data File because its XBRL
              tags are embedded within the Inline XBRL document

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