Clarim Acquisition Corp announced that it has entered into a promissory note agreement with returning investor Clarim Partners, LLC for gross proceeds of $750,000 on November 19, 2021. The Company may request up to five (5) drawdowns of up to $150,000 in each instance (maximum of $750,000 in aggregate) for costs reasonably related to the Company?s ongoing working capital needs. Each Drawdown Request must not be an amount less than $10,000, unless otherwise agreed upon by the parties. The Note bears no interest and is not secured by the Company?s assets. The principal balance of the Note is due and payable by the Company on the earlier of: (i) February 2, 2023 or (ii) the date on which Company consummates the Initial Business Combination (such date, the ? Maturity Date ?). The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended. The note will convert into that number of warrants of the Company or its successor entity (the ? Conversion Warrants ?), equal to: (x) the outstanding amount of the Note being so converted, divided by (y) $1.50, rounded up to the nearest whole number of warrants.