Senior Connect Acquisition Corp. I filed SEC Form 8-K: Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As previously reported, on April 14, 2022, the Senior Connect Acquisition Corp. I (the “Company”) issued a promissory note (“Promissory Note”) to Health Connect Acquisition Holdings LLC (the “Sponsor”), pursuant to which the Sponsor agreed to provide a working capital loan to the Company of up to $3.0 million. The Promissory Note was to be repaid on the earlier of (i) December 31, 2022 and (ii) the effective date of a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses, without interest.
As previously reported, on December 12, 2022, the Company filed with the Secretary of State of the State of Delaware an amendment (the “Extension Amendment”) to the Company’s amended and restated certificate of incorporation to change the date by which the Company must consummate an initial business combination from December 15, 2022 to the December 15, 2023, or such earlier date as determined by the Board of Directors of the Company.
On March 1, 2023, the Company and Sponsor amended and restated the Promissory Note (the “A&R Promissory Note”) such that the A&R Promissory Note will be repaid on the earlier of (i) December 15, 2023 and (ii) the effective date of a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses, without interest.
As of March 1, 2023, the Company was provided aggregate advances of $1,692,640 in loan proceeds pursuant to the A&R Promissory Note.
The foregoing description of the A&R Promissory Note is qualified in its entirety by the full text of the A&R Promissory Note, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
EXHIBIT INDEX
|
Exhibit No. |
Description | |
| 10.1 | A&R Promissory Note, dated March 1, 2023. | |
| 104.1 | 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.
Date: March 1, 2023
| SENIOR CONNECT ACQUISITION CORP. I | |||
| By: | /s/ Ryan Burke | ||
| Name: | Ryan Burke | ||
| Title: | Chief Financial Officer | ||
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