Flame Acquisition Corp. announced a private placement of an unsecured promissory note in the principal amount of $200,000 on October 31, 2022. The transaction included participation from returning investor Flame Acquisition Sponsor LLC.

The Note does not bear interest and is repayable in full upon consummation of the Company's initial business combination. If the Company does not complete a Business Combination, the note shall not be repaid, and all amounts owed under it will be forgiven except to the extent that the Company has funds available to it outside of its trust account established in connection with the company's initial public offering. The note is subject to customary events of default, the occurrence of which automatically trigger the unpaid principal balance of the note and all other sums payable with regard to the note becoming immediately due and payable.

The Note was issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.