SOCIAL CAPITAL SUVRETTA HOLDINGS CORP. III : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

Item 1.01 Entry Into A Material Definitive Agreement.

On April 20, 2022, Social Capital Suvretta Holdings Corp. III (the "Company") issued an unsecured promissory note (the "Promissory Note") to the Company's sponsor, SCS Sponsor III LLC (the "Sponsor"), pursuant to which the Company may borrow up to an aggregate principal amount of $1,500,000. The Promissory Note is non-interest bearing, unsecured and payable upon the earlier of July 2, 2023 and the effective date of the Company's initial business combination. The Promissory Note is subject to customary events of default which could, subject to certain conditions, cause the Promissory Notes to become immediately due and payable.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an

Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
  No.       Description

10.1          Promissory Note, dated April 20, 2022

104         Cover Page Interactive Data File (embedded within the Inline XBRL document)

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