UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Emerging growth company
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| Item 1.01. | Entry Into a Material Definitive Agreement |
As previously disclosed on June 14, 2023, Battery Future Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”) to Battery Future Sponsor LLC, a Delaware limited liability company (“Sponsor”), in consideration of Sponsor loaning the Company the necessary funds to extend the Company’s deadline to complete its business combination.
On July 31, 2023, the Company and the Sponsor amended and restated the Note (the “A&R Note”) in order to (i) increase the aggregate principal amount available to be borrowed to up to $5,000,000, (ii) distinguish between loans made for the purposes of funding (x) the Company’s working capital requirements and (y) the Company’s trust account to extend the Company’s deadline to complete its business combination, and (iii) provide the Sponsor the ability to convert all or a portion of the unpaid balance under the A&R Note, subject to the conversion thresholds set forth in the A&R Note, into private warrants of the Company at the close of the Company’s business combination.
The foregoing description is qualified in its entirety by reference to the A&R Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information in Item 1.01 is incorporated by reference into this item.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits:
EXHIBIT INDEX
| Exhibit |
Description | |
| 10.1 | Amended and Restated Promissory Note, dated July 31, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
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.
| Battery Future Acquisition Corp. | ||
| By: | /s/ Kristopher Salinger | |
| Name: | Kristopher Salinger | |
| Title: | Chief Financial Officer | |
Dated: July 31, 2023