Global System Dynamics, Inc.: debt financing — GSD gets $83,947 sponsor loan to extend business combination deadline to June 9

Global System Dynamics, Inc.

DarkPulse sponsor loaned $83,947 (~$0.0625/share) to GSD trust to extend BC deadline from May 9 to June 9.
Note is non-interest bearing, repayable at earlier of business combination or liquidation.
GSD entered business combination agreement with DarkPulse in Dec 2022; still subject to closing conditions.
SEC review of proxy/prospectus and Nasdaq listing approval remain pending.
CFO states Board approved extension to 'advance business combination efforts' and create shareholder value.

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

Global System Dynamics, Inc. incurred loan of $83,947 with DarkPulse, Inc. at no interest maturing upon the earlier of (i) the date on which the Company consummates its Initial Business Combination, and (ii) the date that the winding up of the Company is effe.

Instrument: loan
Principal: $83,947
Counterparty: DarkPulse, Inc.
Rate: no interest
Maturity: upon the earlier of (i) the date on which the Company consummates its Initial Business Combination, and (ii) the date that the winding up of the Company is effe
Event: incurrence

Exact text from the filing

On May 5, 2023, Global System Dynamics, Inc., a Delaware corporation (" GSD " or the " Company "), issued a promissory note (the " Note ") in the aggregate principal amount of $83,947 to DarkPulse, Inc., a Delaware corporation, the sponsor of the Company

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Global System Dynamics, Inc. entered into Note with DarkPulse, Inc. valued at $83,947 (effective 2023-05-05).

Action: entry
Counterparty: DarkPulse, Inc.
Value: $83,947
Effective: 2023-05-05

Exact text from the filing

On May 5, 2023, Global System Dynamics, Inc., a Delaware corporation (“ GSD ” or the “ Company ”), issued a promissory note (the “ Note ”) in the aggregate principal amount of $83,947 to DarkPulse, Inc., a Delaware corporation, the sponsor of the Company (the “ Sponsor ”), in connection with the extension of the termination date for the Company’s initial business combination (the “ Initial Business Combination ”) from May 9, 2023 to June 9, 2023.

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Source: SEC EDGAR

accession 0001663577-23-000215

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