FTAC Emerald Acquisition Corp. Issues Promissory Note to Frontier SPV, LLC

On October 31, 2024, FTAC Emerald Acquisition Corp. announced that they had issued a promissory note to Frontier SPV, LLC. The promissory note, totaling $973,116.44, was provided by the Lender to assist in clearing the Company’s excise tax liability. This non-interest bearing note requires the repayment of all outstanding amounts on the Maturity Date, which is set to occur upon the completion of a business combination by FTAC Emerald.

The terms of the Promissory Note indicate that should FTAC Emerald fail to execute a business combination, a portion of the funds external to the trust account established following the initial public offering (IPO) may be utilized to settle the note. However, any repayments cannot be sourced from the trust account. In the event that the available funds are inadequate for repayment, the remaining amounts will be forgiven, with no provisions allowing for the conversion of outstanding amounts into units or shares.

On the same date, FTAC Emerald Acquisition Corp. fully availed of the amount extended under the Promissory Note, utilizing the funds as per the agreement.

This document serves as a notification of this financial transaction reported by FTAC Emerald Acquisition Corp. in their recent Form 8-K filing with the United States Securities and Exchange Commission (SEC). The disclosure is in compliance with the reporting obligations outlined in the Securities Exchange Act of 1934. It is important to note that this release is based solely on the information disclosed in the mentioned filing and subsequent amendments.

Investors and stakeholders interested in further details regarding FTAC Emerald Acquisition Corp.’s financial activities and upcoming business combination are encouraged to review the official SEC filings and related documents available on the SEC’s website.

Please be advised that this news article has been created using information sourced from the FTAC Emerald Acquisition Corp.’s Form 8-K filing with the SEC, and no additional data beyond the provided text has been considered for this report.

This should not be considered as an endorsement or recommendation to take any financial actions regarding FTAC Emerald Acquisition Corp. or their affiliates.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FTAC Emerald Acquisition’s 8K filing here.

FTAC Emerald Acquisition Company Profile

FTAC Emerald Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the clean/renewable energy, water sustainability, agricultural technology, shared economy software, and mobility sectors.