WinVest Acquisition extends SPAC deadline to June 17
WinVest Acquisition Corp. drew an additional $30,000 on an existing sponsor loan to keep its blank-check company alive for another month.
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Form Type
8-K
Rhea-AI Filing Summary
WinVest Acquisition Corp. drew an additional $30,000 on an existing sponsor loan to keep its blank-check company alive for another month. This is the third draw under an unsecured promissory note with a total principal of $180,000, which carries no interest and matures at either a business combination closing or liquidation.
The $30,000 was deposited into the SPAC’s trust account to extend the deadline to complete an initial business combination from May 17, 2026 to June 17, 2026. These funds ultimately support redemptions or liquidation payouts for public shareholders depending on whether a deal is completed.
8-K Event Classification
Item 2.03 — Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
1 item
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Key Figures
Promissory note principal: $180,000
Per-draw amount: $30,000
Third drawdown: $30,000
+4 more
7 metrics
Promissory note principal
$180,000
Unsecured sponsor promissory note for SPAC extensions
Per-draw amount
$30,000
Maximum size of each of up to six draws
Third drawdown
$30,000
Deposited into trust on May 10, 2026
Extension from date
May 17, 2026
Original termination date for business combination
Extension to date
June 17, 2026
New deadline to consummate initial business combination
Interest rate
0%
Promissory note bears no interest
Draw count allowed
Up to 6 draws
Each draw of $30,000 under the promissory note
Key Terms
Promissory Note, Trust Account, Business Combination, initial public offering, +1 more
5 terms
Promissory Note financial
"the Company issued an unsecured promissory note in the principal amount of $180,000 (the “Promissory Note”)"
A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.
Trust Account financial
"deposit such sum into the Trust Account in connection with the extension of the Termination Date"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
Business Combination financial
"the date (the “Termination Date”) by which the Company must consummate an initial business combination"
A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.
initial public offering financial
"the trust account (the “Trust Account”) established in connection with the Company’s initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
Emerging growth company regulatory
"405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934(§240.12b-2 of this chapter). Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did WinVest Acquisition Corp. (WINV) disclose in this 8-K?
WinVest Acquisition Corp. disclosed a third drawdown of $30,000 on a sponsor promissory note. The funds were deposited into its trust account to extend the business combination deadline from May 17, 2026 to June 17, 2026.
How large is WinVest Acquisition Corp.’s sponsor promissory note?
The sponsor promissory note has a principal amount of $180,000. It allows WinVest Acquisition Corp. to draw up to six equal amounts of $30,000 each to fund extensions of the deadline to complete an initial business combination.
What are the terms of the WinVest (WINV) promissory note?
The WinVest Acquisition Corp. promissory note is unsecured, bears no interest, and matures at the earlier of a completed business combination or the company’s liquidation. Repayment if no deal occurs comes only from cash held outside the IPO trust account.
How does the latest WINV loan draw affect the SPAC’s trust account?
The latest $30,000 draw was deposited directly into WinVest’s trust account. Those funds will ultimately be distributed to public shareholders, either upon liquidation or to holders who redeem their shares when a business combination is completed.
What deadline did WinVest Acquisition Corp. extend with this funding?
WinVest Acquisition Corp. extended the termination date for completing an initial business combination from May 17, 2026 to June 17, 2026. The extension was enabled by a $30,000 draw on its sponsor promissory note deposited into the trust account.
Who is providing the loan funding to WinVest Acquisition Corp. (WINV)?
The funding comes from WinVest SPAC LLC, the SPAC’s sponsor. It agreed to loan up to $180,000 under an unsecured promissory note, with proceeds used to extend WinVest Acquisition Corp.’s deadline to complete an initial business combination.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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