TenX Keane Acquisition announced that it has issued an unsecured non-convertible promissory note for aggregate proceeds of $660,000 on October 18, 2023. The transaction included participation from returning investor 10XYZ Holdings LP. The note bears no interest and is payable in full upon the consummation of the company?s business combination.

The following shall constitute an event of default: (i) a failure to pay the principal within five business days of the Maturity Date; (ii) the commencement of a voluntary or involuntary bankruptcy action, (iii) the breach of the company?s obligations thereunder; (iv) any cross defaults; (v) an enforcement proceedings against the Company; and (vi) any unlawfulness and invalidity in connection with the performance of the obligations thereunder, in which case the Promissory Note may be accelerated.