Lake Superior Acquisition publishes revised annual report
LKSP•Lake Superior Acquisition amended its 2025 annual report to say up to $1.5 million in working capital loans may convert into units at $10 each after its initial business combination. No such loans have been made, and the terms remain nonbinding and subject to negotiation.
1. Revised loan terms
The amended annual report revises contemplated terms for working capital loan conversion. Up to $1.5 million of loans may convert into units at $10 per unit upon completion of the initial business combination, replacing previously contemplated conversion into Class A ordinary shares at $10 per share. No working capital loans have been made or entered into, and the terms remain nonbinding and subject to further negotiation.
