GPAC II extends sponsor promissory notes to July 2024, ups borrowing capacity to $4M

Stardust Power Inc.

Extended maturity of sponsor promissory notes to July 14, 2024, subject to earlier business combination or liquidation.
Increased principal borrowing limit from $3M to $4M under the January 2023 promissory note amendment.
Working capital promissory note maturity also extended to July 14, 2024; no change to principal amount.
Upon business combination, sponsor may convert up to $1,750,000 into warrants at $1.50 per warrant.
The amendments provide additional funding runway for GPAC II's pending merger with Stardust Power.

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