ATLAS CREST INVESTMENT CORP. II: Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Registrant Arrangement, Financial Statements and Exhibits (Form 8-K)
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under a
Off-Balance Sheet Arrangement of a Registrant
The Note bears no interest and is payable in full upon the completion of the Company’s initial business combination (the “Maturity Date”). Failure to pay Principal on the Maturity Date will be considered an Event of Default, in which case the Note may be accelerated. The Company will have no obligation to redeem the Note if the Company is liquidated and no initial business combination is completed. At the option of the Limited Partner, all or a portion of the unpaid principal amount of the note may be converted into a number of warrants to purchase Common Shares, par value
A copy of the note is attached as Schedule 10.1 to this current Report on Form 8-K and is incorporated herein by reference. The information provided in this Section 2.03 is intended as a summary only and is qualified in its entirety by reference to the note.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits Exhibit Number Description Promissory Note, dated
February 3, 2022, issued by Atlas Crest 10.1 Investment Corp.II to Atlas Crest Investment II LLCCover Page Interactive Data File ( formatted in Inline XBRL and 104 contained in Exhibit 101)
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