Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
On March 7, 2022, Alpha Capital Acquisition Company (the "Company") issued an
unsecured promissory note (the "Note") in the amount of up to $500,000 to Alpha
Capital Sponsor LLC (the "Sponsor"). The proceeds of the Note, which may be
drawn down from time to time until the Company consummates its initial business
combination, will be used as general working capital purposes.
The Note bears no interest and is payable in full upon the earlier to occur of
(i) June 30, 2022 or (ii) the consummation of the Company's initial business
combination. The Note is required to be repaid in cash and is not convertible
into private placement warrants. A failure to pay the principal within five
business days of the date specified above or the commencement of a voluntary or
involuntary bankruptcy action shall be deemed an event of default, in which case
the Sponsor may declare the Note due and payable immediately. The issuance of
the Note was made pursuant to the exemption from registration contained in
Section 4(a)(2) of the Securities Act of 1933, as amended.
A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form
8-K and is incorporated herein by reference. The disclosures set forth in this
Item 2.03 are intended to be summaries only and are qualified in their entirety
by reference to the Note.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Promissory Note dated March 7, 2022, issued by Alpha Capital
Acquisition Company to Alpha Capital Sponsor LLC
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