Coliseum Acquisition Corp. announced that it has issued a convertible promissory note for up to $1.5 million on June 22, 2023. The transaction included participation from new lender Berto LLC.

The notes may be converted into warrants, at a price of $1.50 per warrant, at the option of acquirer. The note bears no interest and is repayable in full upon the earlier of (a) the date of the consummation of the Issuer’s initial business combination, or (b) the date of the Issuer’s liquidation.