| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement or a Registrant. |
Item 8.01 of this Current Report on Form 8-K is incorporated by reference into this item 2.03.
As previously disclosed, on August 11, 2023, at the Extraordinary General Meeting (the “Extraordinary General Meeting”), the shareholders of Jaguar Global Growth Corporation I, a Cayman Islands exempted Company (the “Company”) approved, among other things, an amendment to the Company’s amended and restated Memorandum and Articles of Association to (i) extend the date (the “Termination Date”) by which the Company has to consummate a business combination from August 15, 2023 (the “Original Termination Date”) to September 15, 2023 (the “Extended Date”), and to allow the Company, without another shareholder vote, to elect to extend the Termination Date to consummate a business combination on a monthly basis for up to three times by an additional one month each time after the Extended Date, by resolution of the Company’s board of directors (the “Board”), if requested by Jaguar Global Growth Partners I, LLC, a Delaware limited liability company (the “Sponsor”), and upon five days’ advance notice prior to the applicable Termination Date, until December 15, 2023, or a total of up to four months after the Original Termination Date (each, an “Extension” and collectively, the “Extensions”), unless the closing of the Company’s business combination has occurred (the “Extension Amendment”). As previously disclosed the Sponsor agreed that if the Company’s shareholders approved the Extension Amendment, it or its designees (the “Contributor”) would deposit into the trust account established in connection with Company’s initial public offering (the “Trust Account”) on or prior to the applicable Termination Date, the lesser of (i) $0.0225 per Class A ordinary share of the Company that remains outstanding and is not redeemed prior to the Extended Date (as defined below) or any such following one-month extension of the Termination Date or (ii) an aggregate of $112,500, for each month of the extension period up to and until December 15, 2023, pro-rated for partial months during the extension period, resulting in a maximum contribution of $450,000. In connection with the shareholder approval of the Extension Amendment, the Company issued to the Sponsor an unsecured convertible promissory note in the principal amount of up to $450,000, dated August 15, 2023 (the “Note”). The Note does not bear interest and matures upon closing of the Company’s initial business combination.
On September 14, 2023, the Board approved a one-month Extension from September 15, 2023 to October 15, 2023, upon receipt of a timely request from the Sponsor. On September 15, 2023, the Company deposited an aggregate of $112,500 (the “Extension Funds”) into the Trust Account and the Company drew the Extension Funds from the Note.
The foregoing description of the Note does not purport to be complete and is qualified in its entirety by the terms and conditions thereof. A copy of the Note is incorporated herein by reference to Exhibit 10.1 of this Current Report on Form 8-K.
| Item 9.01 |
Financial Statements and Exhibits. |
