Abpro Holdings Inc. has entered into a new loan agreement with its Chief Executive Officer and Chairman, Miles J.W. Suk. Under the terms of the agreement, Suk will provide an unsecured loan of $147,000 to the company, specifically to fund the premium for its directors' and officers' liability insurance. The loan, which features a nine-month term, does not accrue interest for the first three months, after which it bears interest at a variable rate equal to the three-month Term SOFR plus 2.0% per annum. The loan may be prepaid at any time without penalty and is not secured by collateral or guaranteed by any third party.

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