Clarim Acquisition in a regulatory filing disclosed it has issued a promissory note to borrow up to $600,000 from its sponsor, Clarim Partners,
At such time the SPAC closes a merger, the outstanding amount under the note converts automatically into warrants equal to the outstanding amount of the note being converted divided by $1.50 and rounded up to the nearest whole number of warrants.
Clarim raised $250 million in a January IPO with plans to target companies primarily within the consumer-facing e-commerce sector. Read more.
