Iris Acquisition Corp II — Form 8-K

Iris Acquisition Corp II (a $171.8M SPAC) issued a promissory note to three Harraden Circle entities for up to $250,000 dated October 20, 2026. The note bears no interest and is drawdown-based for working capital needs through December 31, 2027 or business combination close. Upon business combination close by Dec 31, 2027, the company pays principal plus 150% additional return; after Dec 31, 2027, it pays principal plus 250% additional return. Counterparties: Harraden Circle Investors LP ($162.5K), Harraden Circle Concentrated LP ($27.5K), Harraden Circle Special Opportunities LP ($60K). The note is unsecured and excludes trust account assets.