Black Hawk Acquisition Announces Sponsor-Backed Convertible Note Financing

2026-02-20 05:45:20

Black Hawk Acquisition Corporation (BKHA) has announced a sponsor-backed convertible note financing of up to $300,000 from Black Hawk Management LLC to cover working capital needs. The note bears 10% annual interest and matures upon the initial business combination or liquidation, with the sponsor having the option to receive cash repayment or convert the note into equity at $1.00 per share in a DeSPAC transaction. This flexible financing structure supports the SPAC’s deal execution while aligning the sponsor’s incentives with the combined company’s future performance.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes