Stardust Power Inc. (SDST): debt financing — Global Partner Acquisition Corp II draws $150k for eighth one-month SPAC extension to Dec 14

Stardust Power Inc.

Drew $150,000 under Promissory Note with sponsor for the eighth of nine one-month extensions.
Extension moves initial business combination deadline from Nov 14, 2023 to Dec 14, 2023.
Note is non-interest bearing; matures upon business combination or repaid from trust funds remaining if no deal.
Up to $1.75M of note principal convertible into warrants at $1.50/warrant, identical to sponsor's private placement warrants.

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 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: upon closing of the Company's initial business combination
Event: incurrence

Exact text from the filing

On November 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 November 9, 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 0001213900-23-086932

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