Pegasus Digital Mobility Acquisition Corp. announced that it has entered into an agreement for a private placement of a non-convertible unsecured promissory note due in the aggregate original principal amount of $1,100,000 on March 15, 2023. The transaction involves participation from existing investor, Pegasus Digital Mobility Sponsor Llc.

The Note bears no interest and is repayable in full upon the earliest of December 31, 2023, the date on which the Company consummates a business consummation.