Spark I Acquisition Corp. Files 8-K on Financial Obligations

TL;DR

SPKLU filed an 8-K detailing new financial obligations and equity sales as of Jan 28.

AI Summary

Spark I Acquisition Corp. filed an 8-K on January 29, 2025, reporting on events as of January 28, 2025. The filing indicates the creation of a direct financial obligation and unregistered sales of equity securities. It also includes financial statements and exhibits.

Why It Matters

This filing signals potential new financial commitments or equity issuances by Spark I Acquisition Corp., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing involves financial obligations and unregistered equity sales, which can carry inherent risks and require further investigation into the specifics.

Key Players & Entities

• Spark I Acquisition Corp. (company) — Registrant
• January 28, 2025 (date) — Earliest event reported
• January 29, 2025 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — nsisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemab
• $11.50 — ordinary share at an exercise price of $11.50 per share SPKLW The Nasdaq Stock Ma
• $1,900,000 — Note") in the principal amount of up to $1,900,000 to SPAC Fund LLC (the "Sponsor"), of wh
• $840,000 — hich the Company had drawn and borrowed $840,000 at issuance. The Note does not bear int
• $1,500,000 — n, to convert all or a portion of up to $1,500,000 of the unpaid principal balance of the
• $1.00 — unt of the Note so converted divided by $1.00. The terms of the Working Capital Warra

Filing Documents

• tm254262d1_8k.htm (8-K) — 34KB
• tm254262d1_ex10-1.htm (EX-10.1) — 24KB
• 0001104659-25-007030.txt ( ) — 292KB
• spklu-20250128.xsd (EX-101.SCH) — 4KB
• spklu-20250128_def.xml (EX-101.DEF) — 27KB
• spklu-20250128_lab.xml (EX-101.LAB) — 37KB
• spklu-20250128_pre.xml (EX-101.PRE) — 26KB
• tm254262d1_8k_htm.xml (XML) — 7KB

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On January 28, 2025, Spark I Acquisition Corporation (the "Company") issued an unsecured promissory note (the "Note") in the principal amount of up to $1,900,000 to SPAC Fund LLC (the "Sponsor"), of which the Company had drawn and borrowed $840,000 at issuance. The Note does not bear interest and is repayable in full upon consummation of the Company's initial business combination (a "Business Combination"). If the Company does not complete a Business Combination, the Note shall not be repaid and all amounts owed under it will be forgiven. Upon the consummation of a Business Combination, the Sponsor shall have the option, but not the obligation, to convert all or a portion of up to $1,500,000 of the unpaid principal balance of the Note into that number of warrants to purchase one Class A ordinary share, $0.0001 par value per share, of the Company (the "Working Capital Warrants") equal to the principal amount of the Note so converted divided by $1.00. The terms of the Working Capital Warrants will be identical to the terms of the warrants issued by the Company to the Sponsor in a private placement that took place simultaneously with the Company's initial public offering. The Note is subject to customary events of default, the occurrence of which automatically trigger the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable. A description of the other material relationships between the Company and the Sponsor is set forth in "Item 13. Certain Relationships and Related Party Transactions" of the Company's Annual Report on Form 10-K for the year ended December 31, 2023, which is incorporated by reference herein. The Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure set forth in this Item 2.03 is inte

02

Item 3.02 Unregistered Sales of Equity Securities. The disclosure contained in Item 2.03 is incorporated by reference in this Item 3.02. The Note was issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Promissory Note, dated January 28, 2025, issued by the Company to the Sponsor 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SPARK I ACQUISITION CORPORATION By: /s/ Kurtis Jang Name: Kurtis Jang Title: Chief Operating Officer Date: January 29, 2025

View Full Filing

View this 8-K filing on SEC EDGAR