Oceanhawk Acquisition Corp.: issues $1,550,000 promissory note to sponsor

What happened Oceanhawk Acquisition Corp. filed an 8-K reporting that it issued an unsecured promissory note (the “Note”) in the principal amount of $1,550,000 to Oceanhawk Acquisition I Sponsor, LLC (the “Sponsor”) on Sep 30, 2026. The filing says the Note does not bear interest and is repayable in full upon consummation of the Company’s initial business combination.

Key details

• Principal amount: $1,550,000; issued to Oceanhawk Acquisition I Sponsor, LLC on Sep 30, 2026.
• Interest: the Note does not bear interest.
• Repayment: payable in full upon consummation of the Company’s initial business combination; if no business combination, repaid out of funds available to the Company outside of the trust account established in connection with the Company’s initial public offering.
• Defaults: the Note is subject to customary events of default, the occurrence of which automatically triggers the unpaid balance and all other sums payable becoming immediately due and payable.
• Securities law: the Note was issued pursuant to the exemption from registration in Section 4(a)(2) of the Securities Act of 1933, as amended.

Why it may matter Item 1.01 was reported: entry into a material definitive agreement describing the terms of a related-party loan from the Sponsor, including repayment conditions and default provisions. The filing does not show why the sponsor provided the loan or why the company issued the Note.