ClimateRock announced a private placement that it has issued a promissory note in the aggregate principal amount of up to $600,000 on April 30, 2024. The transaction included participation from returning lender, U.N. SDG Support LLC. The Note bears no interest and is repayable in full upon the earlier of the date of the consummation of the Business Combination and the date of the liquidation of the Company.

At the election of the Sponsor, up to $600,000 of the unpaid principal amount of the Note may be converted into warrants of the Company identical to the warrants issued to the Sponsor in connection with a private placement that closed contemporaneously with the Company?s initial public offering, at a conversion price of $1.00 per warrant. The converted warrants are entitled to the registration rights set forth in the Note. 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.