Oyster Enterprises Acquisition Corp. announced that it will issue an unsecured promissory note for gross proceeds upto $1,500,000 on December 30, 2021. The transaction will include participation from Oyster Enterprises, LLC. The note does not bear interest and is repayable in full upon consummation of the company's initial business combination.

On the same date, the company received $500,000 in its first tranche.