Healthcare AI Acquisition Corp. Issues Unsecured Promissory Note for Working Capital Purposes

Healthcare AI Acquisition Corp. (NASDAQ:HAIAU) recently announced in an 8-K filing with the Securities and Exchange Commission that the company issued an unsecured promissory note to Leading Group Limited on January 17, 2025. The note was issued for a loan amount of $100,000 and is intended for working capital purposes.

The note, issued to Leading Group, a Cayman Islands exempted company with limited liability, does not bear interest and will mature upon the closing of a business combination. This loan is part of an agreement related to a business combination that Healthcare AI Acquisition Corp. previously entered into with Leading Partners Limited and Leading Group, as disclosed on August 15, 2024.

In the event of a liquidation, all amounts due under the note will be repaid in cash. The full details of the note can be found in Exhibit 10.1 of the Form 8-K filing.

Healthcare AI Acquisition Corp. also confirmed its status as an emerging growth company, as defined by Rule 405 of the Securities Act of 1933. The company has indicated its choice not to utilize the extended transition period for compliance with new or revised financial accounting standards.

The 8-K filing includes the promissory note dated January 17, 2025, as Exhibit 10.1, along with a cover page interactive data file.

Jiande Chen, the Chief Executive Officer of Healthcare AI Acquisition Corp., signed the report on behalf of the company on January 23, 2025. The filing reflects the commitment of Healthcare AI Acquisition Corp. to secure financial resources for its operations and future growth strategies.

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

About Healthcare AI Acquisition

Healthcare AI Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Dover, Delaware.