Sports Entertainment Acquisition Corp. announced a private placement of an unsecured promissory note for gross proceeds of $2,000,000 on August 19, 2021. The transaction included participation from existing investor Sports Entertainment Acquisition Holdings LLC. The Note does not bear interest and is repayable in full upon consummation of the Company’s initial business combination. If the Company does not complete a Business Combination, the Note shall not be repaid and all amounts owed under it will be forgiven. The Note is subject to customary events of default, the occurrence of which automatically trigger the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable.