Soulpower Acquisition Secures Insider Promissory Notes for Liquidity

An announcement from Soulpower Acquisition Corp. Class A ( (SOUL) ) is now available.

On February 19, 2026, Soulpower Acquisition Corporation issued an unsecured promissory note of up to $785,000 to Soulpower Management LLC, carrying a flat 22% interest at maturity and maturing upon either its initial business combination or liquidation, with $745,000 already drawn for general working capital. On the same date, it issued a second unsecured promissory note of up to $2.5 million to the same lender, of which about $1.21 million had been advanced, structured so that the principal will be fully forgiven if a business combination is completed, underscoring the sponsor’s financial support and aligning related-party funding with the SPAC’s deal-closing milestone.

These notes, which are not convertible into equity and are subject to customary default terms, provide additional liquidity while concentrating credit exposure with an affiliate that controls the sponsor and holds voting and investment discretion over the SPAC’s shares. The arrangement highlights both the reliance on insider financing to cover ongoing working capital and the incentive structure that forgives a substantial portion of that support if Soulpower successfully completes its initial business combination.

More about Soulpower Acquisition Corp. Class A

Soulpower Acquisition Corporation is a special purpose acquisition company, or SPAC, formed to consummate an initial business combination, typically by merging with or acquiring an operating business. The company is sponsored by Soulpower Acquisition Sponsor LLC, which is controlled through Soulpower International Corporation and led by CEO and chairman Justin Lafazan.

Average Trading Volume: 86,430

Technical Sentiment Signal: Strong Buy

Current Market Cap: $267.2M

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