Goldenbridge Acquisition Limited announced a private placement of one unsecured promissory note for gross proceeds of $575,000 on May 26, 2022. The transaction included participation from Auto Services Group Limited. The note issued at par, does not bear interest and mature upon closing of a business combination by the Company.

In addition, the note may be converted by the holder into units of the company identical to the units issued in the company's initial public offering at a price of $10 per unit. Each unit consisting of one ordinary share, one warrant to purchase one-half of one ordinary share, and one right to receive one-tenth of one ordinary share upon the consummation of the company's initial business combination.