UY Scuti Acquisition Corp. (UYSC) Form 8-K — Oct 23, 2026
UY Scuti Acquisition Corp. issued an unsecured, interest-free $900,000 promissory note to Isdera HK Limited on October 22, 2026, formalizing two $450,000 extension loans that funded trust deposits and extended its deal deadline to January 1, 2027. The same day, the SPAC issued a second promissory note to merger target Xinghui Automotive Technology allowing drawdowns up to $200,000 for transaction costs, with $135,154 already outstanding. Both notes are payable at business-combination closing and convertible into units at $10.00 per unit unless the holder becomes a subsidiary of the post-deal public company.
Key figures
- Interest Rate
- 0
- July extension loan
- 450000
- October extension loan
- 450000
- Isdera hk note principal
- 900000
- Trust extension deadline
- 2027-01-01
- Conversion price per unit
- 10
- Xinghui note max principal
- 200000
- Xinghui note outstanding at issuance
- 135154
AI analysis
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