Global System Dynamics, Inc. Announces Sponsor Funding of Additional One-Month Extension to Complete its Initial Business Combination
November 14 2023 - 3:30PM
Global System Dynamics, Inc. (Nasdaq: GSD) (“GSD” or the “Company”)
today announced that its sponsor, DarkPulse, Inc. (the “Sponsor”),
has deposited an aggregate of $29,816.63 (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
November 9, 2023 to December 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.
Rick Iler, CFO of GSD,
stated, “We are very excited to report once again that the Board of
Directors has approved our Sponsor’s request for an additional
one-month extension to complete the business combination. As such,
our Sponsor has contributed approximately $29,816 in 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 completed, we remain confident
that this transaction will create significant shareholder
value.”
Today’s Sponsor
contribution was 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, if there are funds
available outside of the Company’s trust account.
About Global System
Dynamics, Inc.
GSD is a newly organized
blank 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
Safe Harbor Statement
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.
Contact
Global System Dynamics,
Inc.(703) 287-5800
Company Profile Global
System Dynamics, Inc. Headquarters: Houston, TX, USA
Website: http://www.globalsystemsdynamics.com
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