Blue Ocean Acquisition in an 8-K said it issuedd a promissory note to its sponsor for $1.5 million to fund working capital needs and drew down $350,000 of the total.
The SPAC in June signed a merger agreement with TNL Mediagene, an Asian digital-media company, at a pre-money enterprise value of approximately $275 million. Blue Ocean lost about 83% of its trust to redemptions ahead of a May deadline extension vote. Read more.
