Global System Dynamics, Inc. Announces Sponsor Funding Of Additional One-Month Extension To Complete Its Initial Business Combination To January 9, 2024
Portfolio Pulse from Benzinga Newsdesk
Global System Dynamics, Inc. (GSD) announced an additional one-month extension to complete its initial business combination, now set for January 9, 2024. The extension is made possible by a $29,816.63 contribution from its sponsor, DarkPulse, Inc., to GSD's trust account. This contribution increases the pro rata funds available to stockholders in the event of a business combination or other redemption event by $0.0625 per share. The funds are provided as a non-interest bearing loan to be repaid upon a business combination or liquidation.
December 12, 2023 | 9:03 pm
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GSD received a sponsor contribution of $29,816.63 from DarkPulse, Inc., allowing for a one-month extension to complete its initial business combination, potentially increasing shareholder value.
The sponsor's contribution and extension indicate progress towards completing the business combination, which is typically viewed positively by the market as it suggests confidence in the potential deal. This could lead to a short-term positive impact on GSD's stock price.
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