UY Scuti issues $900,000 interest-free note to Isdera HK for business combination extensions
UYSC•UY Scuti Acquisition issued Isdera HK a $900,000 interest-free note on October 22, 2026, documenting loans that extended its business combination deadline to January 1, 2027. A separate note from Xinghui Automotive Technology provides up to $200,000 for transaction costs, with $135,154 outstanding at issuance.
1. Notes fund extensions
UY Scuti Acquisition issued Isdera HK a $900,000 unsecured promissory note on October 22, 2026, documenting two extension loans used for trust account deposits. The deposits extended the business combination deadline to January 1, 2027. A separate unsecured note provides up to $200,000 from Xinghui Automotive Technology for transaction costs; $135,154 was outstanding at issuance. Both notes bear no interest and mature upon completion of the proposed business combination. Principal is convertible into units at $10 per unit, unless the holders become Purchaser subsidiaries, in which case cash repayment or intercompany settlement is required.
