10X CAPITAL VENTURE ACQUISITION CORP. III 10X Capital Venture Acquisition Corp. III announced that it has entered into a Secured Convertible Promissory Note Purchase Agreement with certain investors, including the Gaingels 10X Capital Diversity Fund, pursuant to which AGT sold to the Investors senior secured convertible promissory notes with an aggregate principal amount of approximately $5.9 million on October 31, 2023. The company is authorized to sell a total aggregate value of $50 million of the 2023 Convertible Promissory Notes, inclusive of the Initial Notes, and intends to sell additional 2023 Convertible Promissory Notes from time to time.
The Initial Notes mature on October 31, 2026 and bear simple interest at the minimum rate of interest equal to the I.R.S. applicable federal rate per annum.
