Stardust Power Inc. (SDST): debt financing — Global Partner Acquisition Corp II draws $150K from sponsor note for one-month extension to Nov 14, 2023

Stardust Power Inc.

Drew $150,000 from Promissory Note issued to sponsor Global Partner Sponsor II LLC on Oct 13, 2023.
Funds deposited into trust to extend deadline by one month from Oct 14 to Nov 14, 2023.
This is the seventh of nine permitted one-month extensions under the company's charter.
Note bears no interest, matures upon business combination or from funds outside trust if no deal.
Up to $1.75M of principal can be converted into warrants at $1.50 per warrant.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Stardust Power Inc. incurred loan of aggregate of $150,000 with Global Partner Sponsor II LLC at does not bear interest maturing matures upon closing of the Company's initial business combination.

Instrument: loan
Principal: aggregate of $150,000
Counterparty: Global Partner Sponsor II LLC
Rate: does not bear interest
Maturity: matures upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On October 13, 2023, Global Partner Acquisition Corp II (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated October 13, 2023, pursuant to the Promissory Note, dated January 13, 2023 between the Company and Global Partner Sponsor II LLC (the “Note”)

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101 debt financings filed in the last 30 days. Browse all debt financings →

Stardust Power Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-003828

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