DarkPulse Inc (DPLS)

[JMC$]

NASDAQ-NEWS - Emerging Smart Cities Technology Company, DarkPulse, Inc., to List on NASDAQ Exchange via a Business Combination with Global System Dynamics, Inc.
https://www.otcmarkets.com/stock/DPLS/news/story?e&id=2406006
HOUSTON--(BUSINESS WIRE)-- DarkPulse, Inc. (OTC: DPLS) (“DarkPulse” or the “Company”), an emerging company which utilizes advanced technologies, including their patented dark-pulse BOTDA laser-based critical infrastructure monitoring systems, to create the foundational technology for the operation of Smart Cities, is pleased to announce the signing of a definitive business combination agreement with Global System Dynamics, Inc. (NASDAQ: GSD) (“GSD”), and GSD’s wholly owned merger subsidiary, Zilla Acquisition Corp. The combined company will be called “Global System Dynamics, Inc.” upon the closing of the transaction and is expected to be listed on NASDAQ under a new ticker symbol “DARK.”

Highlights of the transaction include:
Once the transaction is complete, DarkPulse will be delisted from the OTC Markets and will trade on the NASDAQ exchange. The transaction is expected to close in the first or second quarter of 2023.
The combined company will have an initial equity value of approximately $223 million which equates to an enterprise value of approximately $145 million, assuming no redemptions by GSD stockholders.
GSD currently has approximately $108.8 million cash in trust as of December 14, 2022.
The transaction is expected to provide DarkPulse with greater access to capital, better liquidity, and a wider investor audience as it pursues additional strategic and accretive acquisitions in the critical infrastructure industries of roadways, shipping, agriculture, and other industries that require structural monitoring.
The current Board of Directors of GSD will remain with three additional directors, Dennis O’Leary, Joseph Catalino, and George Pappas, respectively, to be appointed to join the Board of Directors at the closing of the transaction.
All existing DarkPulse shareholders will receive 100% of their equity in the pro forma company...