WinVest Acquisition Corp. announced that issued an unsecured promissory note for the gross proceeds of $390,000 on June 13, 2023. The Note does not bear interest and matures upon the earlier of the closing of a Business Combination and the Company?s liquidation. In the event that the Company does not consummate a Business Combination, the Note will be repaid only from amounts remaining outside of the Trust Account, if any. Upon the consummation of a Business Combination, the Sponsor may elect to convert any portion or all of the amount outstanding under the Note into private warrants to purchase shares of the Company?s common stock, par value $0.0001 per share at a conversion price of $0.50 per private warrant. Such private warrants will be identical to the private placement warrants issued to the Sponsor at the time of the IPO. The Company has caused $65,000 to be deposited into the Trust Account in connection with the first drawdown under the Note pursuant to the extension of the Termination Date to July 17, 2023, and will cause an additional $65,000 to be deposited into the Trust Account for each subsequent Extension that is needed by the Company to complete a Business Combination. Such amounts will be distributed either to all of the holders of shares of Common Stock issued as part of the units sold in the IPO (the ?Public Shares?) upon the Company?s liquidation or holders of Public Shares who elect to have their shares redeemed in connection with the consummation of a Business Combination. An aggregate of 780,000 private warrants of the Company would be issued if the entire principal balance of the Note was converted. The private warrants would be exercisable subject to their terms and conditions during the exercise period provided in the warrant agreement governing the private warrants. The sale of the Note and any private warrants issuable upon conversion of the Note is exempt from the registration requirements of the Securities Act of 1933, as amended (the ?Securities Act?), pursuant to Section 4(a)(2) thereof and Regulation D thereunder.

On the same date, the company announced that it has received $65,000 in the first tranche.