INSU Acquisition Corp. III filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Item 1.01. Entry into a Material Definitive Agreement.
As previously reported, on July 12, 2021, INSU Acquisition Corp. III (“we,” “us” or the “Company”) issued a convertible promissory note (the “Promissory Note”) to Cohen & Company, LLC (the “Lender”), the manager of the Company’s sponsors, Insurance Acquisition Sponsor III, LLC and Dioptra Advisors III, LLC. All or a portion of the amounts outstanding under the Promissory Note are convertible into units at a price of $10.00 per unit at the option of the Lender. On February 11, 2022, the Company and the Lender amended the Promissory Note to increase the aggregate principal amount of the Promissory Note from $500,000 to $810,000. On April 8, 2022, the Company and the Lender further amended the Promissory Note to increase the aggregate principal amount of the Promissory Note from $810,000 to $1,500,000. All other terms of the Promissory Note remain in full force and effect. On April 8, 2022, we borrowed an additional $150,000 under the Promissory Note.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Second Amendment to Promissory Note dated April 8, 2022 made by and between INSU Acquisition Corp. III and Cohen & Company, LLC. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: April 8, 2022 | INSU ACQUISITION CORP. III | |
| By: | /s/ John M. Butler | |
| Name: | John M. Butler | |
| Title: | President and Chief Executive Officer | |
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