SK Growth Opportunities Corporation announced a private placement for issuance of an unsecured convertible promissory note in the total principal amount of up to $900,000 on March 1, 2024. The transaction included participation from returning investor Auxo Capital Managers LLC. The promissory note does not bear interest on the unpaid principal balance and matures upon closing of the company?s initial business combination.

The total principal amount of the promissory note may be converted, in whole or in part, at the option of the sponsor into warrants at a price of $1 per warrant, with each warrant exercisable for one Class A ordinary share or into Class A ordinary shares equal to the quotient obtained by dividing the amount of accrued and outstanding of the Promissory Note by $10.