Market News / Story
Texas Ventures Acquisition III Issues $250,000 Convertible Working Capital Note to Yorkville Sponsor II
·
Texas Ventures Acquisition III entered into a convertible unsecured promissory note to obtain additional working capital. The $250,000 note bears no interest and is payable upon the earlier of the company’s initial business combination or its winding up. Upon consummation of the business combination, the sponsor may convert up to the full principal into a maximum of 25,000 units at $10.00 per unit, identical to the IPO private placement units. Each unit includes one…