Cartica Acquisition Upsizes Sponsor Loan for Business Operations

Cartica Acquisition Corporation Class A (CITE) has released an update.

Cartica Acquisition Corp has amended a promissory note to borrow an increased amount of up to $750,000 from its sponsor for working capital expenses, an update from the original $300,000. This interest-free loan is to be repaid at the earlier of either the completion of the company’s initial business combination or upon its liquidation. The amendment leverages the exemption from registration under a specific section of the Securities Act of 1933.

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