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Global System Dynamics, Inc. (Nasdaq: GSD) announced a $83,947.13 deposit from its sponsor, DarkPulse, Inc., into the company’s trust account. This contribution allows an extension for completing its initial business combination from February 9, 2023 to March 9, 2023. This extension increases the funds available per public share by approximately $0.0625. CFO Rick Iler expressed that this funding demonstrates confidence in creating significant shareholder value through their business combination efforts.
Global System Dynamics (Nasdaq: GSD) announced a request from its sponsor, DarkPulse, Inc., for a one-month extension to finalize its initial business combination. The sponsor will deposit $83,947.13 into GSD's trust account, increasing the funds available per share by approximately $0.0625. This extension pushes the deadline from February 9, 2023 to March 9, 2023. The contribution will act as a non-interest bearing loan, repayable upon the business combination or liquidation. GSD, formed as a blank check company in January 2021, aims to pursue acquisitions aligned with its management team's expertise.
DarkPulse, Inc. (OTC: DPLS) has entered into a definitive business combination agreement with Global System Dynamics, Inc. (NASDAQ: GSD) and its subsidiary Zilla Acquisition Corp. Upon completion, DarkPulse will be listed on NASDAQ under the symbol "DARK". The transaction is valued at approximately $223 million in equity and is expected to close in the first or second quarter of 2023. This merger aims to enhance capital access, liquidity, and acquisition opportunities in critical infrastructure sectors. Existing DarkPulse shareholders will retain full equity in the new entity.
Global System Dynamics (GSD) announced a $1,150,000 deposit from its sponsor, DarkPulse, enhancing the trust account for public stockholders by around $0.11 per share. This contribution allows GSD to extend its deadline to finalize a business combination from November 9, 2022, to February 9, 2023. The added funds could support future business expansion if a merger is completed. CFO Rick Iler emphasized the positive impact on the per-share redemption price and the potential for further investment through a conversion option during the business combination.
Global System Dynamics (NASDAQ: GSD) announced a non-binding letter of intent for a merger with a target company specializing in laser-based monitoring systems for critical infrastructure. The target's technology offers real-time monitoring of environmental changes and has applications in various sectors including mining and aerospace. The merger aims to leverage the target's innovative solutions and experienced management to enhance growth and market positioning. The definitive agreement is expected in Q4 2022, though no assurances on completion have been made.