Global System Dynamics, Inc. Announces Sponsor’s Request for an Additional One-Month Extension to Complete its Initial Business Combination
06 Junio 2023 - 4:03PM
Business Wire
Global System Dynamics, Inc. (Nasdaq: GSD) ("GSD" or the
"Company") today announced that its sponsor, DarkPulse, Inc. (the
"Sponsor"), has requested a one-month extension to complete its
initial business combination. Per the terms of the agreement, the
Sponsor will deposit an aggregate of $83,947.13 (representing
approximately an additional $0.0625 per public share) into the
Company's trust account for the benefit of its valued public
stockholders. This additional contribution enables the Company to
extend the date by which the Company has to complete its initial
business combination for an additional one-month extension from
June 9, 2023 to July 9, 2023. Such contribution effectively
increases the pro rata portion of the funds available in the
Company's trust account in the event of the consummation of an
initial business combination, liquidation, or other redemption
event, by $0.0625 per share. The request is subject to approval by
the Company’s Board of Directors. Should the Company’s Board of
Directors approve the Sponsor’s request, the Sponsor has until June
9, 2023 to deposit the funds into the Company’s trust account. The
Sponsor’s contribution will be funded as a non-interest bearing
loan that will either be paid upon earlier of consummation of an
initial business combination or the company’s liquidation.
Rick Iler, CFO of GSD, stated, "Our Sponsor has requested
another one-month extension to complete its initial business
combination. Should the Company’s Board of Directors approve this
request, the Sponsor will contribute additional funds to the trust
fund for the benefit of the stockholders of Global System Dynamics.
These funds provide for an additional one-month extension which
gives us additional time to advance our business combination
efforts. Once the business combination is complete, we remain
committed to building the next great technology company and
generating significant shareholder value."
About Global System Dynamics, Inc.
GSD is a check company incorporated in January 2021 as a
Delaware corporation formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses.
In December 2022, GSD entered into a business combination
agreement with DarkPulse, Inc., a Delaware corporation, the
material terms of which are included in GSD’s filings with the
Securities and Exchange Commission. The business combination is
expected to be consummated upon completion of closing conditions
which include, among other things, the approval of the transaction
by DarkPulse’s stockholders, satisfaction of the conditions stated
in the definitive business combination agreement and other
customary closing conditions, including that the Securities and
Exchange Commission completes its review of the proxy
statement/prospectus relating to the transaction, the receipt of
certain regulatory approvals, and the approval by The Nasdaq Stock
Market to list the securities of the combined company.
For more information, visit www.gsd.xyz
Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the applicable securities laws.
Forward-looking statements generally are accompanied by words such
as "believe," "may," "estimate," "continue," "anticipate,"
"intend," "expect," "should," "would," "plan," "predict,"
"potential," "seem," "seek," "future," "outlook," and similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters.
These forward-looking statements include, but are not limited
to, statements regarding the terms and conditions of the proposed
business combination and related transactions disclosed herein, the
timing of the consummation of such transactions, assumptions
regarding shareholder redemptions and the anticipated benefits and
financial position of the parties resulting therefrom. These
statements are based on various assumptions and/or on the current
expectations of GSD or DarkPulse's management. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as and must not be relied on by
any investor or other person as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and
will differ from assumptions. Many actual events and circumstances
are beyond the control of GSD and/or DarkPulse. These
forward-looking statements are subject to a number of risks and
uncertainties, including but not limited to general economic,
financial, legal, political and business conditions and changes in
domestic and foreign markets; the amount of redemption requests
made by GSD's public shareholders; NASDAQ's approval of GSD's
initial listing application; changes in the assumptions underlying
DarkPulse's expectations regarding its future business; the effects
of competition on DarkPulse's future business; and the outcome of
judicial proceedings to which DarkPulse is, or may become a
party.
If the risks materialize or assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
DarkPulse and GSD presently do not know or currently believe are
immaterial that could also cause actual results to differ
materially from those contained in the forward-looking statements.
In addition, forward-looking statements reflect expectations,
assumptions, plans or forecasts of future events and views as of
the date of this press release. DarkPulse and GSD anticipate that
subsequent events and developments will cause these assessments to
change. However, while DarkPulse and/or GSD may elect to update
these forward-looking statements at some point in the future, each
of DarkPulse and GSD specifically disclaims any obligation to do
so, except as required by applicable law. These forward-looking
statements should not be relied upon as representing DarkPulse's or
GSD (or their respective affiliates') assessments as of any date
subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
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Investor Relations The Blueshirt Group Greg McNiff
greg@blueshirtgroup.com
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