Black Hawk Acquisition signs up to $300,000 convertible note with sponsor Black Hawk Management LLC - BKHA News | RalliesBlack Hawk Acquisition signs up to $300,000 convertible note with sponsor Black Hawk Management LLC
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BKHA• Convertible note and repayment terms
- Black Hawk Acquisition issued a convertible promissory note for up to $300,000 to sponsor Black Hawk Management on Aug. 21, 2026.
- Borrowings can be drawn for working capital or extension fees, capped at $300,000 in aggregate advances.
- The note accrues 10% annual interest from July 8, 2026 for one year.
- Repayment is due at a DeSPAC closing or liquidation; liquidation requires cash repayment.
- The sponsor can convert principal at a DeSPAC into post-combination common stock at $1 per share, rounded up.
