Global System Dynamics, Inc.: debt financing — GSD extends business combination deadline to Sept 9, 2023 via $29.8K sponsor loan

Global System Dynamics, Inc.

Sponsor DarkPulse loaned $29,816.63 to GSD to extend initial business combination deadline from Aug 9 to Sep 9, 2023.
Loan is non-interest bearing, repayable upon consummation of business combination or liquidation.
Deposit increases trust account by ~$0.0625 per public share for benefit of public stockholders.
Business combination with DarkPulse remains pending; closing conditions include SEC review and stockholder approvals.

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 $29,816.63 with DarkPulse, Inc., the sponsor of the Company 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: $29,816.63
Counterparty: DarkPulse, Inc., the sponsor of the Company
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 August 9, 2023, Global System Dynamics, Inc., a Delaware corporation (“ GSD ” or the “ Company ”), issued a promissory note (the “ Note ”) in the aggregate principal amount of $29,816.63 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 August 9, 2023 to September 9, 2023.

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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 $29,816.63 (effective 2023-08-09).

Action: entry
Agreement: credit facility
Counterparty: DarkPulse, Inc.
Value: $29,816.63
Effective: 2023-08-09

Exact text from the filing

On August 9, 2023, Global System Dynamics, Inc., a Delaware corporation (“ GSD ” or the “ Company ”), issued a promissory note (the “ Note ”) in the aggregate principal amount of $29,816.63 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

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Source: SEC EDGAR

accession 0001663577-23-000378

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