Stardust Power Inc. (SDST): debt financing — GPAC II issues up to $250K promissory note to sponsor for extension expenses

Stardust Power Inc.

Note from Global Partner Acquisition Corp II to Global Partner Sponsor II LLC, principal up to $250,000.
No interest accrues; due upon consummation of a business combination or from funds outside trust if no deal.
Payee may convert unpaid principal into warrants at $1.50 per warrant, identical to private placement warrants.
Proceeds used solely for expenses related to extending the deadline for a business combination.
Payee waives all claims against the trust account; note unsecured and subordinated to trust.

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 up to $250,000 with Global Partner Sponsor II LLC at no interest maturing upon the consummation of the Company’s initial merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.

Instrument: loan
Principal: up to $250,000
Counterparty: Global Partner Sponsor II LLC
Rate: no interest
Maturity: upon the consummation of the Company’s initial merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination
Event: incurrence

Exact text from the filing

On January 3, Global Partner Acquisition Corp II (the “Company”) issued a promissory note (the “Note”) in the principal amount of up to $250,000 to Global Partner Sponsor II LLC (the “Payee”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Stardust Power Inc. entered into Note with Global Partner Sponsor II LLC valued at $250,000 (effective 2023-01-03).

Action: entry
Agreement: notes offering
Counterparty: Global Partner Sponsor II LLC
Value: $250,000
Effective: 2023-01-03

Exact text from the filing

On January 3, Global Partner Acquisition Corp II (the “Company”) issued a promissory note (the “Note”) in the principal amount of up to $250,000 to Global Partner Sponsor II LLC (the “Payee”).

View on SEC.gov

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

Stardust Power Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-001417

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.