Tenzing in its latest filing said it issued an unsecured promissory note of up to $200,000 to sponsor Tenzing LLC. A portion of the note, totaling $105,084.14, was deposited into the company’s trust account to fund a contribution in the amount of $0.033 per ordinary share held by public shareholders. As a result, the SPAC’s merger deadline has been extended from Nov. 28 to Dec. 28. The remaining proceeds of the note will be used as general working capital, the SPAC said. Read more.
Tenzing Gets $200K Loan From Sponsor
