Freedom Acquisition I Corp. announced that it has issued an unsecured promissory note for gross proceeds of $2,100,000 on February 28, 2023. The transaction included participation from returning investor, Freedom Acquisition I LLC.

The amount shall be received is $1,600,000 which shall be drawn down on or about the date, $400,000 of which may be drawn down, with the mutual consent of the company and the investor. The investor may lend $400,000 on about or after June 2, 2023 if the company wishes to extend the date by which it will close beyond June 2, 2023. The investor my lend $100,000 on as an as-needed basis at the discretion of the investor.

The notes shall bear no interest rate is payable in full upon the closing of the business combination.