PepperLime Health Acquisition Corporation announced a private placement of an unsecured convertible promissory note at a price of $77,000 in the aggregate principal amount of up to $77,000 to returning investor PepperOne LLC on February 21, 2024. Pursuant to the Note, the investor agreed to loan to the company an aggregate amount up to $77,000. On the same date, an initial $40,000 was advanced under the note.

Additional advances of up to the remaining $37,000 of principal amount of the Note may be made upon the request of the company to the investor anytime before April 19, 2024. The note does not bear interest. The outstanding principal balance of the note shall be payable in cash at the closing of any sale by the investor of all or a portion of the company?s ordinary shares and private warrants it holds to a new investor, an amount equal to, at least, the sum of $24,000 and the amount of any advances made under the note after February 21, 2024 and in cash, or by conversion into the company?s ordinary shares prior to or concurrently with the closing of a business combination, at the price of $10 per share at the option of the investor.