Maxpro Capital Acquisition Corp. announced a private placement of promissory note for proceeds of $500,000 on November 23, 2022. The transaction included participation from MP One Investment LLC.

The Note bears no interest and is due and payable upon the earlier to occur the date on which its initial business combination is consummated and the liquidation of the company on or before January 13, 2023. At the election of the Sponsor, the unpaid principal amount of the Working Capital Note may be converted into units of Maxpro and the total Conversion Units so issued shall be equal to the portion of the principal amount of the Working Capital Note being converted divided by (y) the conversion price of $10, rounded up to the nearest whole number of Conversion Units.