Global System Dynamics SPAC extends deadline to Aug 2023; $95M redeemed, trust drops to $14M

Global System Dynamics, Inc.

Stockholders approved extending business combination deadline by six months, to August 9, 2023.
Approximately 9.15M public shares redeemed at ~$10.39/share, totaling ~$95.06M.
Trust account reduced to ~$14.04M; only 1,343,154 public shares remain outstanding.
Vote on extension passed with 9,468,935 for, 610,437 against; quorum was 75.64%.
Adjournment proposal approved but not needed; no motion to adjourn was made.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Global System Dynamics, Inc.: Extended the deadline to consummate a business combination by up to six additional months (from February 9, 2023 to August 9, 2023) (effective 2023-01-31).

Change: charter amendment
Effective: 2023-01-31

Exact text from the filing

On January 31, 2023, the Company filed with the Secretary of State of the State of Delaware an amendment (the “ Extension Amendment ”) to the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate a Business Combination up to six times, each by an additional month, for an aggregate of six additional months (i.e. from February 9, 2023 up to August 9, 2023) or such earlier date as determined by the board of directors.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Global System Dynamics, Inc. shareholders approved To approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Extension Proposal. at the 2023-01-31 meeting.

Outcome: passed
Meeting: 2023-01-31

Exact text from the filing

Proposal 2. To approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Extension Proposal. For Against Abstained 9,462,006 617,366 11

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Global System Dynamics, Inc. shareholders approved To approve and adopt the Extension Proposal. at the 2023-01-31 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-01-31

Exact text from the filing

Proposal 1. To approve and adopt the Extension Proposal. For Against Abstained 9,468,935 610,437 11

View on SEC.gov

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Source: SEC EDGAR

accession 0001663577-23-000041

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