secwatch.observer — SEC 8-K summary
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Issuer:     Stardust Power Inc. (SDST)
CIK:        0001831979
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001213900-24-013399
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831979/000121390024013399/0001213900-24-013399-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831979/000121390024013399/ea193553-8k425_global2.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-013399

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