Lakeshore Acquisition II Corp. announced a private placement of an unsecured promissory note in the aggregate principal amount of $20,000 on February 6, 2024. The transaction included participation from returning investor, Nature's Miracle Inc. The note does not bear interest and matures upon the earlier of (i) the closing of the company?s initial business combination and (ii) March 11, 2024.

In the event that the company does not consummate a business combination, the note will be repaid only from amounts remaining outside of the company?s trust account, if any. The company will also issue 2,000 shares of Class A common stock of PubCo to the investor or its designee following the closing of the Business Combination.