Healthcare AI Acquisition Corp. 8-K

What Happened

• Healthcare AI Acquisition Corp. filed an 8-K on May 12, 2026 disclosing that on May 6, 2026 it issued an unsecured, non‑interest bearing promissory note for $196,919.23 to Leading Group Limited to cover extension payments and general working capital. The Note is payable in cash on the earlier of (i) consummation of a business combination, (ii) termination of the merger agreement, (iii) liquidation of the Company, or (iv) October 14, 2026. The Note contains customary default provisions and is governed by New York law.
• On the same date the Company amended two previously issued unsecured promissory notes (dated May 28, 2025 for $30,502.20 and August 19, 2025 for $711,619.15) to extend their maturity so each is now payable on the same earlier-of events or October 14, 2026. Other terms of those notes remain unchanged.

Key Details

• New loan amount: $196,919.23 (unsecured, non‑interest bearing), creditor: Leading Group Limited, dated May 6, 2026.
• Amended notes: $30,502.20 (May 28, 2025) and $711,619.15 (Aug 19, 2025) — maturity extended to earliest of business combination, merger agreement termination, liquidation, or Oct 14, 2026.
• Repayment: All amounts are payable in cash upon the specified events; notes include standard default remedies and New York jurisdiction.

Why It Matters

• For investors, the filing signals the company has taken on (and extended) short‑term debt to fund extension payments and working capital needs as it pursues a business combination. The notes increase the Company’s financial obligations that must be repaid in cash on a transaction, liquidation, or by Oct 14, 2026.
• The notes are unsecured and non‑interest bearing, so they do not add interest expense but do represent priority cash claims that could affect available cash at the time of a business combination or liquidation. Investors tracking the merger timeline and liquidity position should note these updated obligations.