Lakeshore Acquisition II Corporation (LBBB) has released an update to notify the public and investors about its financial commitment initiation.
Lakeshore Acquisition II Corp. has issued a $20,000 unsecured promissory note to Nature’s Miracle as part of a major business combination strategy. This financial move is linked to a merger agreement aimed at reincorporating Lakeshore in Delaware, with Nature’s Miracle becoming a subsidiary. The note, interest-free and maturing by March 11, 2024, will either be settled upon the successful completion of the business combination or through remaining company funds if the merger does not materialize. Additionally, 2,000 shares of Class A common stock will be granted to Nature’s Miracle post-merger, marking a significant step in Lakeshore’s expansion plans.
For further insights into LBBB financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
