DarkPulse, Inc. (“DarkPulse” or the “Company”) today announced that the Board of Directors of Global System Dynamics, Inc. (NASDAQ:GSD) (“GSD”) has approved its request for an additional one-month extension to complete the initial business combination. Per the terms of the agreement, DarkPulse deposited $83,947.13 (representing an additional $0.0625 per public share) into GSD’s trust account for the benefit of its public stockholders. This additional contribution enables GSD to extend the date by which it has to complete its initial business combination from February 9, 2023 to March 9, 2023.
Dennis O’Leary, Founder & Chief Executive Officer of DarkPulse, stated, “We are very excited to report that GSD’s Board of Directors has approved our request for an additional one-month extension to complete the business combination. We look forward to completing the transaction with GSD in order to further invest in our mission to deliver best-in-class infrastructure solutions to a massive end market.”
DarkPulse’s contribution was funded as a non-interest bearing loan that will either be paid upon earlier of consummation of an initial business combination or GSD’s liquidation, if there are funds available outside of GSD’s trust account.
