Iris Acquisition II issues unsecured promissory note for up to $250,000
IRAB•Iris Acquisition II issued a non-interest-bearing unsecured promissory note for up to $250,000, with additional returns of 150% or 250% of principal depending on when a business combination is completed.
1. Note repayment terms
The note was issued on October 20, 2026, and principal and additional return are payable at the earlier of an initial business combination or liquidation. The additional return equals 150% of principal for combinations completed by December 31, 2027, and rises to 250% for later completions. If no business combination occurs, repayment is limited to funds remaining outside the trust account, if any. Proceeds will fund company expenses and general corporate purposes.
