Aimfinity Investment Corp. I announced a private placement of unsecured non-convertible promissory note to I-Fa Chang for the gross proceeds of $85,000 on August 28, 2023. The note bears no interest and is payable in full upon the earlier to occur of the consummation of the company?s business combination or the date of expiry of the term of the company.

The payee of the note has the right, but not the obligation, to convert the promissory note, in whole or in part, respectively, into private units of the company, subject to certain exceptions, by providing the company with written notice of the intention to convert at least two business days prior to the closing of the business combination. The number of private units to be received by the sponsor in connection with such conversion shall be an amount determined by dividing the sum of the outstanding principal amount payable to the sponsor by $10. The issuance of the note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.