Global System Dynamics today announced that its sponsor has requested a one-month extension to complete a proposed business combination with DarkPulse, which develops laser-based critical infrastructure monitoring systems to create the foundational technology for the operation of smart cities.
The sponsor will deposit $83,947.13 (6.25 cents a share) into the company's trust for the extension. This moves the completion date back to May 9.
As announced in December, terms call for DarkPulse to receive up to approximately $121 million from the cash held in trust by Global System Dynamics, assuming no redemptions. Read more.