Stardust Power Inc. (SDST): debt financing — SPAC Global Partner Acquisition Corp II draws $150k to extend business combination deadline

Stardust Power Inc.

Drew $150k from promissory note with sponsor Global Partner Sponsor II LLC.
Deposited into trust to extend deadline from July 14 to August 14, 2023.
Fourth of nine one-month extensions permitted under amended charter.
Note non-interest-bearing, matures upon business combination; up to $1.75M convertible into warrants at $1.50 each.
If no combination, note repaid only from funds outside trust account.

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 $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: $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 July 14, 2023, Global Partner Acquisition Corp II (the “Company”) drew an aggregate of $150,000 (the “Extension Funds”), as approved by unanimous director resolution, dated July 13, 2023, pursuant to the Promissory Note, dated January 13, 2023 between the Company and Global Partner Sponsor II LLC (the “Note”), which Extension Funds the Company deposited into the Company’s trust account for its public shareholders.

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 0001213900-23-057096

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.