WinVest Acquisition Corp. (OTC:WINV) announced Wednesday that it has drawn $30,000 under an unsecured promissory note from its sponsor, WinVest SPAC LLC. The funds were deposited into the company's trust account to extend the deadline for completing an initial business combination from April 17, 2026 to May 17, 2026.
The promissory note, previously disclosed on March 16, 2026, allows WinVest Acquisition to borrow up to $180,000 in six equal amounts of $30,000 each. The note does not bear interest and matures upon the earlier of the closing of a business combination or the company's liquidation. If no business combination is completed, repayment of the note will only be made from funds outside the trust account, if any remain.
The $30,000 drawdown on April 10, 2026 marks the second time WinVest Acquisition has accessed the promissory note. According to the company's statement, the funds support the extension of the period in which the company can pursue a merger or acquisition.
Amounts deposited into the trust account will be distributed to holders of public shares if the company is liquidated, or to shareholders who elect redemption in connection with a business combination.
WinVest Acquisition Corp. is a blank check company incorporated in Delaware and its securities, including common stock (OTC:WINV), units (OTC:WINVU), warrants (OTC:WINVW), and rights (OTC:WINVR), are listed on OTC Markets Group Inc.
This information is based on a statement filed by the company with the Securities and Exchange Commission.
In other recent news, WinVest Acquisition Corp. has made significant strides in its business combination efforts. The company announced that it has extended the deadline to finalize its initial business combination, securing a $180,000 loan from its sponsor. This extension was approved by stockholders, allowing the deadline to move from March 17, 2026, to April 17, 2026, with the option for further extensions up to September 17, 2026, contingent on additional deposits.
In a related development, WinVest Acquisition Corp. completed a $30,000 loan draw from an existing unsecured promissory note with its sponsor. The funds were deposited into the company's trust account to facilitate the extension of the business combination deadline from January 17, 2026, to February 17, 2026. This marks the fifth drawdown under the $180,000 promissory note, which was initially issued in September 2025. The note is interest-free and matures upon the completion of a business combination or the company's liquidation. If the business combination is not completed, repayment will rely on funds outside the trust account, if available.
This article was generated with the support of AI and reviewed by an editor.