Magnum Opus Acquisition Limited in an 8-K filing said it issued an unsecured convertible promissory to its sponsor for a working capital loan of up to $200,000.
Any portion of the principal may be converted into the SPAC’s warrants at $1 each, with warrants exercisable at $11.50 for a share.
Forbes terminated a $630 million deal with the SPAC back in May.
Magnum Opus raised$200 million in a March 2021 IPO with the stated goal at the time of targeting a company with operations or prospects focusing on global consumer, technology or media sectors with disruptive growth potential through the use of technology that can benefit from operations in Asia. Read more.
