WinVest Acquisition Corp. Reports New Financial Obligation

TL;DR

**WinVest just took on new debt or a financial commitment, watch for details on what it means for their SPAC deal!**

AI Summary

WinVest Acquisition Corp. filed an 8-K on February 15, 2024, reporting an event on February 14, 2024, related to the creation of a direct financial obligation. The filing details the company's common stock, redeemable warrants, and rights to acquire shares, indicating potential changes in its capital structure or financial commitments. This suggests a new financial arrangement or obligation has been established by the SPAC.

Why It Matters

This filing indicates WinVest Acquisition Corp. has taken on a new financial obligation, which could impact its future operations, potential merger activities, and overall financial health.

Risk Assessment

Risk Level: medium — The creation of a direct financial obligation introduces new liabilities and potential risks to the company's financial stability and future prospects.

Key Players & Entities

• WinVest Acquisition Corp. (company) — Registrant
• February 14, 2024 (date) — Date of earliest event reported
• February 15, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ck Market LLC Common Stock, par value $0.0001 per share WINV The Nasdaq Stock Mar
• $330,000 — missory note in the principal amount of $330,000 (the "Promissory Note") to WinVest SPAC
• $55,000 — e to time in up to six equal amounts of $55,000, such amount representing approximately
• $0.048 — such amount representing approximately $0.048 per unredeemed Public Share (as defined

Filing Documents

• form8-k.htm (8-K) — 53KB
• ex99-1.htm (EX-99.1) — 8KB
• 0001493152-24-006818.txt ( ) — 293KB
• winv-20240214.xsd (EX-101.SCH) — 4KB
• winv-20240214_def.xml (EX-101.DEF) — 27KB
• winv-20240214_lab.xml (EX-101.LAB) — 37KB
• winv-20240214_pre.xml (EX-101.PRE) — 26KB
• form8-k_htm.xml (XML) — 8KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 14, 2024 WINVEST ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 001-40796 86-2451181 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 125 Cambridgepark Drive , Suite 301 Cambridge , Massachusetts 02140 (Address of principal executive offices) Registrant's telephone number, including area code: (617) 658-3094 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one share of Common Stock, one redeemable Warrant, and one right WINVU The Nasdaq Stock Market LLC Common Stock, par value $0.0001 per share WINV The Nasdaq Stock Market LLC Warrants to acquire 1/2 of a share of Common Stock WINVW The Nasdaq Stock Market LLC Rights to acquire one-fifteenth of one share of Common Stock WINVR The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934(240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement or a Registrant. As previously disclosed, on December 13, 2023, WinVest Acquisition Corp. (the "Company") issued an unsecured promissory note in the principal amount of $330,000 (the "Promissory Note") to WinVest SPAC LLC, a Delaware limited liability company (the "Sponsor"), pursuant to which the Sponsor agreed to loan to the Company up to $330,000 in connection with the extension of the date (the "Termination Date") by which the Company must consummate an initial business combination ("Business Combination") . The Promissory Note does not bear interest and matures upon the earlier of (a) the closing of a Business Combination and (b) the Company's liquidation. The principal of the Promissory Note may be drawn down from time to time in up to six equal amounts of $55,000, such amount representing approximately $0.048 per unredeemed Public Share (as defined below). In the event that the Company does not consummate a Business Combination, the Promissory Note will be repaid only from amounts remaining outside of the trust account (the "Trust Account") established in connection with the Company's initial public offering (the "IPO"), if any. On February 14, 2024, the Company effected the third drawdown of $55,000 under the Promissory Note and caused the Sponsor to deposit such sum into the Trust Account in connection with the extension of the Termination Date from February 17, 2024 to March 17, 2024. Such amounts will be distributed either to: (i) all of the holders of shares of the Company's common stock, par value $0.0001 per share, issued as part of the units sold in the IPO ("Public Shares") upon the Company's liquidation or (ii) holders of Public Shares who elect to have their shares redeemed in connection with the consummation of a Business Combination. Item 7.01. Regulation FD Disclosure. On February 15, 2024, WinVest Acquisition Corp. (the "Company") issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein, announcing the extension of the date by which the Company must consummate an initial business combination from February 17, 2024 to March 17, 2024. In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise sub

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View this 8-K filing on SEC EDGAR