Tenzing Acquisition Corp. (NasdaqCM:TZAC) announced a private placement of an unsecured convertible promissory note for gross proceeds of up to $200,000 on November 12, 2020. The transaction included participation from returning investor, Tenzing LLC. The notes issued carries no interest and are convertible into units at a conversion price of $10 per unit. Each unit consists of one ordinary share and one warrant exercisable for one additional ordinary share. The company may drawdown the note amount from time to time until the date of its initial business combination and each drawdown should be in multiples of $10,000. The issuance of the note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933.