Item 1.01 Entry into a Material Definitive Agreement. On May 1, 2023, Digital Transformation Sponsor LLC (the "Sponsor") entered into a promissory note with Digital Transformation Opportunities Corp. ("DTOC" or the "Company"), providing for an aggregate amount of loans up to $700,000 to fund the Company’s operating expenses (the "Working Capital Facility"). The Working Capital Facility bears no interest and all unpaid principal under the Working Capital Facility will be due and payable in full upon the earlier of (i) the date of the consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company. The foregoing description is subject to, and qualified in its entirety by reference to, the Working Capital Facility, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference. 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 above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein. Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Description 10.1 Promissory Note dated May 1, 2023 104 Cover Page Interactive Data File, formatted in […]
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