Accretion Acquisition Corp. announced a private placement of an unsecured Extension promissory note for gross proceeds of $80,000 and an unsecured Working Capital Note for gross proceeds of $105,000 for the total gross proceeds of $185000 on August 21, 2023. The transaction involved participation from new lender Accretion Acquisition Sponsor, LLC.

The Notes bear no interest and are each due and payable upon the earlier of the liquidation of the Company and the closing date on which the Company consummates a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. If an Initial Business Combination is not consummated, the Notes will not be repaid and all amounts owed thereunder will be forgiven except to the extent that the Company has funds available to it outside of its trust account established in connection with its initial public offering. The issuance of the Notes was exempt pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.