Bite Acquisition in a regulagtory filing said it issued a convertible unsecured promissory note for up to $7 for $700,000 to Smart Dine, one of the sponsors, for working capital.
The note replaces a February promissory note for up to $350,000. Any principal amount can be converted into the SPAC’s units at $10 each.
Bite raised $175 million in a February 2021 IPO. The blank check company is focused on the traditional and non-traditional restaurant sectors in North America. Read more.
