InterPrivate IV InfraTech Partners Inc. announced that it has entered into a private placement and issued unsecured convertible promissory note for gross proceeds of $1,500,000 on March 31, 2022. The transaction included participation from returning investor, InterPrivate Acquisition Management IV, LLC. The convertible promissory note will be issued at the principal amount of $1,500,000. The convertible promissory note is non-interest bearing and due on the earlier of March 9, 2023. The convertible promissory note of $1,500,000 of such additional loans may be convertible into warrants, at a price of $1.50 per warrant at the option of the Sponsor. The warrants would be identical to the private placement warrants, including as to exercise price, exercisability, and exercise period. Except for the foregoing, the terms of such additional loans have not been determined and no written agreements exist with respect to such loans. If the company fully draws down on the convertible promissory note and requires additional funds for working capital purposes, the sponsor, an affiliate of the Sponsor, or the company's officers and directors may, but are not obligated to, loan the Company such additional funds as may be required. The issuance of the convertible promissory note was approved by the board of directors on March 31, 2022.

On March 7, 2023, the company and the investor entered into an amended and restated convertible promissory note to extend the due date of the convertible note to the earlier of September 9, 2023. The issuance of the convertible note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.