Chenghe Acquisition Co. Class A (CHEA) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Chenghe Acquisition Co. issued a non-interest bearing, non-convertible unsecured promissory note to Chenghe Investment Co. for up to $300,000, which will be used for general corporate purposes. The principal must be repaid upon the occurrence of specified corporate events, such as mergers or reorganizations, or earlier if an Event of Default occurs. The specific terms of the Note are detailed in a filed document.
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For a comprehensive understanding of the announcement, you can read the full document here.
