Cartesian Growth Corporation II announced that it has issued an unsecured promissory note with principal amount of 250,000 to returning lender CGC II Sponsor LLC on January 19, 2024. The Note does not bear interest and the principal balance will be payable on the earlier to of the date on which the company consummates its initial business combination and the maturity date. The lender has the option on the maturity date to convert all or any portion of the principal outstanding into that number of warrants equal to the portion of the principal amount being converted divided by $1.00, rounded up to the nearest whole number in case of initial business combination.

The Note is subject to customary events of default, the occurrence of certain of which automatically triggers the unpaid principal balance of the Note and all other sums payable with regard to the Note becoming immediately due and payable. The company issued securities pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.