Onyx Acquisition Co. I announced a private placement of non-interest bearing, unsecured promissory note up to $720,000 on February 7, 2023. The transaction will include participation from returning lenderr, Onyx Acquisition Sponsor Co. LLC.

On the same date the lender deposited an initial principal amount of $120,000, and thereafter the same amount for each subsequent calendar month commencing on August 7, 2023. Each drawdown request must be for the $120,000 unless agreed upon by the company and the investor. The transaction has been approved by the extraordinary general meeting of shareholders of the company.