Soulpower Acquisition issues up to $2.5 million unsecured promissory note to sponsor-linked lender
Soulpower Acquisition Corp. issued an unsecured, interest-free promissory note of up to $2.5 million on May 29, 2026, to Soulpower Management LLC, a lender linked to its sponsor and Chief Executive Justin Lafazan. The note is forgiven in full if the company completes an initial business combination, and otherwise falls due on an event of default or liquidation, so shareholders' exposure depends on whether that combination closes.
Key points
- Note principal of up to $2,500,000 issued May 29, 2026 to Soulpower Management LLC
- Note bears no interest and is not convertible into company securities
- Principal is automatically forgiven upon consummation of an initial business combination
- Proceeds are to be used for general working capital; lender is controlled by CEO Justin Lafazan's firm
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 01, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.