K&F Growth Acquisition Corp. II filed a Form 8-K on September 21, 2026, disclosing that on September 18, 2026, it issued two unsecured promissory notes totaling $600,000 to its co-founders for working capital purposes.

Key Highlights

  • Two notes issued: Separate unsecured promissory notes of $300,000 each were issued to Daniel Fetters and Edward King on September 18, 2026.
  • No interest: The notes bear no interest and proceeds will be used for working capital purposes.
  • Maturity trigger: The notes are due upon the earlier of the consummation of the initial business combination or the date of liquidation of the company.
  • Conversion option: At the payees' option, unpaid principal may be converted into units, each consisting of one Class A ordinary share and one right to receive 1/15 of one Class A ordinary share upon the consummation of the business combination.
  • Trust account limitation: If no business combination is consummated, repayment is limited to amounts remaining outside the company's trust account, if any.
  • Default terms: Failure to pay outstanding principal within one business day of the maturity date constitutes an event of default, after which payees may declare the notes immediately due.

K&F Growth Acquisition Corp. II Details $600,000 Working Capital Financing

According to the filing, K&F Growth Acquisition Corp. II (NASDAQ:KFII), a Cayman Islands exempted company headquartered in Manhattan Beach, California, entered into two separate unsecured promissory notes on September 18, 2026. Each note carries a principal amount of $300,000, with one issued to Daniel Fetters and the other to Edward King, for a combined total of $600,000. The company disclosed that proceeds may be drawn from time to time prior to the maturity date and are designated for working capital purposes.

The filing states that the notes bear no interest. Repayment is due upon the earlier of the consummation of the company's initial business combination or the date of liquidation. The company further disclosed that if no business combination is completed, repayment of the notes will come only from amounts held outside of the trust account established in connection with the company's initial public offering, if any such amounts exist.

The filing also notes that, prior to a business combination, if principal balances remain unpaid, the payees have the option to convert up to the full principal amounts into conversion units. The filing describes these conversion units as identical to units issued in a private placement upon consummation of the IPO, and states that they carry registration rights under a Registration Rights Agreement dated February 4, 2025. The issuance of the notes was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended, according to the filing.

What Was Disclosed

The company disclosed the issuance of two $300,000 unsecured, non-interest-bearing promissory notes to its co-founders for working capital, with repayment tied to a business combination or liquidation, and an optional conversion feature into company units.