Global System Dynamics, Inc. Announces Sponsor Funding of Additional One-Month Extension to Complete its Initial Business Combination
Global System Dynamics, Inc. (GSD) has received an additional contribution of $26,816.63 from its sponsor, DarkPulse, Inc., further enhancing the company’s ability to complete its initial business combination. This additional funding extends the deadline for the completion of the business combination by one month, providing GSD with more time to advance its efforts.
Rick Iler, the CFO of GSD, expressed excitement about the extension, stating that the board of directors approved the sponsor’s request. The funds contributed by DarkPulse will be held in the trust account for the benefit of GSD’s stockholders. Iler believes that once the business combination is finalized, it will generate significant value for shareholders.
The additional contribution from DarkPulse was provided as a non-interest bearing loan, which will be repaid upon the consummation of the initial business combination or the company’s liquidation, if funds are available outside of the trust account.
GSD, a blank check company established in January 2021, aims to facilitate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. In December 2022, GSD entered into a business combination agreement with DarkPulse, Inc., which is expected to be completed upon the fulfillment of closing conditions, including stockholder approval, regulatory approvals, and listing on The Nasdaq Stock Market.
Both GSD and DarkPulse are optimistic about the potential benefits and financial position resulting from the proposed business combination. However, it is important to note that forward-looking statements, such as these, are subject to various risks and uncertainties. Actual events and circumstances may differ from the assumptions made, and factors beyond the control of GSD and DarkPulse could impact the outcome.
Despite these potential challenges, GSD and DarkPulse remain committed to their vision and anticipate updating their assessments as events unfold. They emphasize their dedication to providing shareholders with value and assure investors that they will comply with applicable laws and regulations.
For more information about Global System Dynamics, Inc., visit their website at www.gsd.xyz.