Finnovate Acquisition Corp. announced that it issued unsecured promissory note at an issue price of $1,500,000 for gross proceeds of up to $1,500,000 on November 8, 2023. The transaction included participation from returning investor Sunorange Limited.

The Note will be issued at par value. The Note does not bear interest and matures upon the earlier of the closing of an initial business combination by the Company and the Company?s liquidation.