Spark I Acquisition Corp Announces Sponsor Loan for SPAC Extension

What Happened
Spark I Acquisition Corp filed an 8‑K on September 29, 2026 disclosing that its sponsor, SLG SPAC Fund LLC, agreed to make monthly loan contributions to the SPAC Trust Account if shareholders approve an extension of the deadline to complete an initial business combination from September 29, 2026 to March 29, 2027 (the “Extended Date”). The Company also recorded a promissory note issued to the sponsor (the “Second Extension Note”) and announced a one‑time Company deposit into the Trust Account to increase the per‑share redemption amount tied to the Extraordinary General Meeting (EGM) for the proposed business combination with ZincFive, Inc.

Key Details

• Sponsor contributions: SLG SPAC Fund LLC will deposit beginning October 1, 2026 $0.015 per public share outstanding after redemptions as monthly loans, up to approximately $201,304 in the aggregate.
• Promissory note: The Company issued the Second Extension Note to the sponsor with principal up to $400,000; the note bears no interest and is repayable upon the earlier of (i) consummation of an initial business combination or (ii) the Extended Date (March 29, 2027). If no deal by the Extended Date, the note will be repaid only from funds outside the Trust Account or may be forgiven.
• Company Additional Contribution: The Company will deposit $0.10 per public share not redeemed (one‑time) into the Trust Account on October 5, 2026 to increase the per‑share redemption amount for redemptions tied to the EGM or a liquidation.
• Redemption withdrawal deadline: Public shareholders who submitted redemption requests for the EGM may withdraw those requests by contacting Continental (spacredemptions@continentalstock.com) no later than 5:00 p.m. ET on Friday, October 2, 2026. Shareholders who do not withdraw will receive the original redemption price, estimated at approximately $10.92 per share.

Why It Matters
These actions are intended to support an extension vote for the SPAC’s timeline to complete a merger (with ZincFive, Inc. pending shareholder approval). The sponsor’s monthly deposits and the Company’s $0.10/share contribution increase the cash that will be available to public holders who redeem in connection with the EGM or a liquidation, but the sponsor contributions are structured as loans evidenced by a promissory note that is repayable only upon a deal or from non‑Trust funds. Retail investors should note the redemption withdrawal deadline (Oct 2, 2026) and that the extension, loan mechanics, and additional deposit affect the cash available per public share and the sponsor’s financial exposure, not guarantees of a completed transaction.