HOUSTON, Nov. 03, 2022 (GLOBE NEWSWIRE) — Global System Dynamics, Inc. (Nasdaq: GSD) (“GSD” or the “Company”) today announced that its sponsor, DarkPulse, Inc. (the “Sponsor”), deposited a total of $1,150,000 (representing approximately an additional $0.11 per public share) into the Company’s trust account for the benefit of its valued public shareholders. This additional contribution allows the Company to extend the date by which the Company must finalize its initial business combination for an initial three-month extension from November 9, 2022 to February 9, 2023. This contribution effectively increases the pro rata share of funds available in the Company’s trust account upon the completion of an initial business combination, liquidation or other redemption event, of $0.11 per share.
Rick Iler, Chief Financial Officer of GSD, said, “We are very pleased to announce that our sponsor has contributed $1,150,000 in additional funds to the trust fund for the benefit of Global System Dynamics shareholders. These funds not only provide an initial three-month extension, which gives us more time to advance our business combination efforts, but also means there are more funds, almost $1,150,000 (before any redemption) in the sole trust of the SPAC, which could be used to finance the expansion and development plans of the business combination objective of GSD if such business combination is achieved. »
Mr. Iler added, “Today’s sponsor contribution increased the repurchase price per share under the Extension Amendment by an additional $0.11 per share.
Today’s sponsor contribution has been funded in the form of an interest-free loan that will either be paid at the earliest after an initial business combination is completed or the company is liquidated, or, at the discretion of the lender and subject to certain conditions, converted upon completion of the initial business combination into additional units, at a price of $10.00 per unit, identical to the units issued under the private placement of the Company carried out within the framework of the Company’s initial public offering.
About Global System Dynamics, Inc.
GSD is a newly organized blank check corporation incorporated in January 2021 as a Delaware corporation formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or a similar business combination with one or more companies. GSD has not selected any specific business combination target, nor has it engaged anyone on its behalf in substantive discussions, directly or indirectly, with any business combination target.
While GSD may pursue an acquisition opportunity in any company, industry, sector or geographic location, it intends to focus on industries that complement the experience of its management team and capitalize on the ability of its management team to identify and acquire a business where its management team has extensive experience.
For more information visit www.gsd.xyz
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking words such as “believe”, “expect”, “may”, “should”, ” “could”, “seek”, “intend”, “plan”, “goal”, “estimate”, “anticipate” or other comparable terms. All statements other than statements of historical fact included in this press release regarding our strategies, outlook, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based solely on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other conditions. future tions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not rely on any such forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those set forth in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; customer acceptance of our products and services; our continued ability to pay operating costs and our ability to meet demand for our products and services; the extent and nature of competition from other security and telecommunications products and services; the effects of developments in the cybersecurity and telecoms markets; our ability to successfully develop new products and services; our success in establishing and maintaining collaborative agreements, strategic alliances, licensing and supplier agreements; our ability to comply with applicable regulations; and other risks and uncertainties described in our prior filings with the Securities and Exchange Commission. We undertake no obligation to update publicly any forward-looking statements, written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Global System Dynamics, Inc.
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