Stratim Cloud Acquisition Corp. announced that it has entered into a purchase agreement with new lender Stratim Cloud Acquisition, LLC to issue 10% non convertible promissory note for the gross proceeds of $250,000 on June 6, 2023. The note bears 10% rate of interest computed at a daily rate of 0.0278%.

All unpaid principal and interest under the Promissory Note shall be due and payable in full on the date by which the Company completes a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the Company and one or more businesses pursuant to its Amended and Restated Certificate of Incorporation.