Astrea Acquisition in an 8-K filing today said it received a loan of $350,000 from its sponsor for working capital purposes. If the SPAc does not complete a btusiness combination the promissory note will not be repaid unless Astrea has funds beyond those raised in its $150 million IPO last month.
Astrea in its initial filing did not identify any particular industry or geographic region to target, noting only that it would focus on businesses with equity values greater than $350 million. Read more.
