WinVest Acquisition Corp. 8-K

What Happened

• WinVest Acquisition Corp. announced an unsecured promissory note totaling up to $180,000 issued to its sponsor, WinVest SPAC LLC, to support an extension of the date to complete an initial business combination. The Promissory Note was originally issued on March 16, 2026, does not bear interest, and matures on the earlier of the closing of a business combination or the Company’s liquidation.
• On May 10, 2026, the Company took the third drawdown of $30,000 under the note and the Sponsor deposited that $30,000 into the SPAC’s trust account as part of the extension of the Termination Date from May 17, 2026 to June 17, 2026.

Key Details

• Total promissory commitment: $180,000 from WinVest SPAC LLC (the Sponsor).
• Drawdowns: Up to six equal draws of $30,000; the May 10 drawdown was the third $30,000 payment.
• Terms: No interest; matures upon closing of a business combination or the Company’s liquidation.
• Repayment if no deal: The note will be repaid only from amounts remaining outside the trust account (i.e., sponsor repayment is subordinate to funds in the trust).

Why It Matters

• This provides short-term funding to permit the SPAC to extend its deadline to complete a merger or acquisition, which may allow more time to complete a deal.
• The note’s repayment priority means public shareholders’ trust-account funds remain protected; sponsor repayment depends on leftover cash outside the trust if the SPAC liquidates.
• Investors should note the extension of the Termination Date to June 17, 2026 and that additional drawdowns (up to three remaining) are possible if further extensions are sought.