Progress Acquisition Secures Loan from Sponsor for up to $195K

Progress Acquisition in a regulatory filing said it signed a promissory note with its sponsor to borrow up to $195,000 for working capital needs. The sponsor may convet any portion of the loan into warrants at $1 each.

Progress raised $120 million in a February 2021 IPO. The SPAC is interested in targets involved in cutting-edge media, entertainment and digital technology. Read more.

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