PHP Ventures Acquisition Corp. announced that it has issued non-convertible unsecured promissory note for gross proceeds of $1.5 million on September 24, 2023. The transaction included participation from returning investor, Global Link Investment LLC.

The note was issued in connection with the company?s efforts to close a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The note bears no interest and is due and payable upon the earlier to occur of (a) the closing of an Initial Business Combination or (b) the liquidation of the Company, subject to the terms of its Amended and Restated Certificate of Incorporation.