$600,000 in combined principal amounts was issued by K&F Growth Acquisition Corp. II on September 18, 2026, to two named insiders. The math reconciles: two separate unsecured promissory notes of $300,000 each, totaling the $600,000 figure disclosed in the Form 8-K filed with the U.S. Securities and Exchange Commission. The proceeds are designated for working capital purposes and are drawn from the company's available funds prior to the Maturity Date.
Note Terms and Conversion Mechanics
The notes bear no interest and are due upon the earlier of the consummation of the company's initial business combination or the date of the company's liquidation. If the company does not complete a business combination, repayment is limited to amounts remaining outside the trust account established during the initial public offering. The source specifies that if the principal balances are not paid in full before a business combination, the payees may elect to convert up to the total principal amounts into company units. Each conversion unit consists of one Class A ordinary share and one right. Upon the consummation of the initial business combination, each right entitles the holder to receive one-fifteenth of one Class A ordinary share. These conversion units are identical to the units issued in the private placement connected to the company's IPO and carry registration rights under an agreement dated February 4, 2025.
| Metric | Detail |
|---|---|
| Total Principal | $600,000 |
| Interest Rate | 0% |
| Maturity Trigger | Earlier of business combination or liquidation |
| Conversion Ratio | 1 unit per $1 of principal (max) |
| Unit Composition | 1 Class A share + 1 Right |
| Right Entitlement | 1/15 of 1 Class A share |
The issuance was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933. The payees are identified as Daniel Fetters and Edward King. A failure to pay the outstanding principal within one business day of the Maturity Date constitutes an event of default, allowing the payees to declare the notes due and payable immediately. The company is a Cayman Islands exempted company listed on The Nasdaq Stock Market LLC under the ticker symbols KFII, KFIIU, and KFIIR. The filing was signed by Edward King, Co-Chief Executive Officer, on September 21, 2026.