Social Capital Suvretta Holdings Corp. I announced a private placement of unsecured promissory note for gross proceeds of $1,500,000 on April 20, 2022. The transaction included participation from new lender, SCS Sponsor I LLC.

The promissory note is non-interest bearing, unsecured and payable upon the earlier of July 2, 2023 and the effective date of the company's initial business combination. The promissory note is subject to customary events of default which could, subject to certain conditions, cause the promissory notes to become immediately due and payable.