UY Scuti Acquisition Corp. (UYSC) has disclosed the issuance of a promissory note to Isdera HK Limited, an affiliate of its merger partner Isdera Group Limited. According to a Form 8-K filed on October 22, 2026, the Company issued an unsecured promissory note in the principal amount of $900,000 to Isdera HK. This note serves to evidence two prior loans made by Isdera HK to UYSC in 2026.
The filing details that Isdera HK loaned the Company $450,000 on June 30, 2026, and an additional $450,000 on September 30, 2026. These funds were deposited into the Company’s trust account to extend the deadline for completing an initial business combination. The first extension moved the deadline to October 1, 2026, and the second to January 1, 2027.
In addition to the note to Isdera HK, UYSC issued a promissory note to Xinghui Automotive Technology (Hainan) Co., Ltd. in the principal amount of up to $200,000. As of the date of issuance, $135,154 was outstanding under this note. The funds are intended to finance transaction costs related to the proposed business combination with Isdera Group.
Both promissory notes are unsecured and bear no interest. They are due upon the consummation of the business combination. Upon maturity, the outstanding principal balances may be converted into units of the Company’s securities at a conversion price of $10.00 per unit. However, if the holder of either note becomes a subsidiary of the Purchaser upon closing, the conversion right terminates, and the balance will be settled through cash repayment or an intercompany set-off.
