Cartesian Growth Corp III (NASDAQ:CGCT) has issued a $150,000 unsecured promissory note to its sponsor, CGC III Sponsor LLC.
The note is non-interest bearing, with principal due upon completion of the company's initial business combination or winding up.
Shares trade at $10.84, with a market cap of roughly $358 million.
If a business combination occurs, the sponsor can convert the principal into warrants at $1.00 per warrant.
The note includes standard default provisions.
Cartesian Growth Corp III is a Cayman Islands company listed on Nasdaq under symbols CGCTU, CGCT, and CGCTW.
