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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 14, 2023
GLOBAL PARTNER ACQUISITION CORP II
(Exact Name of Registrant as Specified in its Charter)
Cayman Islands |
|
001-39875 |
|
N/A |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
200 Park Avenue 32nd Floor
New York, NY |
|
10166 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (646) 585-8975
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Units, each consisting of one Class A Ordinary Share, $0.0001 par value, and one-sixth of one redeemable warrant |
|
GPACU |
|
The Nasdaq Stock Market LLC |
Class A Ordinary Shares included as part of the units |
|
GPAC |
|
The Nasdaq Stock Market LLC |
Redeemable Warrants included as part of the units |
|
GPACW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01. Other Events.
On September 15, 2023, Global Partner Acquisition
Corp II, a Cayman Island exempted company (the “Company”), announced that the board
of directors (the “Board”) has determined not to proceed with another one-month extension, as permitted under the Company’s
amended and restated memorandum and articles (the “Articles”)
that allow the Company to extend the date by which it must complete its initial business combination.
On January
11, 2023, the Company held an extraordinary general meeting of shareholders of the Company (the “Extension Meeting”) to amend
the Articles to extend the date (the “Termination Date”)
by which the Company has to consummate a business combination from January 14, 2023 (the “Original Termination Date”)
to April 14, 2023 (the “Articles Extension Date”) and to allow the Company, without another shareholder vote, to elect to
extend the Termination Date to consummate a business combination on a monthly basis for up to nine times by an additional one month each
time after the Articles Extension Date, by resolution of the Company’s Board if requested by the Global Partner Sponsor II LLC,
a Delaware limited liability company, and upon five days’ advance notice prior to the applicable Termination Date, until January
14, 2024, or a total of up to twelve months after the Original Termination Date, unless the closing of the Company’s initial business
combination shall have occurred prior to such date (the “Extension Amendment Proposal”). The shareholders of the Company approved
the Extension Amendment Proposal at the Extension Meeting. Subsequently, by resolution of the Board, five additional one-month extensions
were made by the Company that extended the Termination Date to September 14, 2023, at which point the Board decided to not extend the
Termination Date any further as it had determined the Company would not consummate an initial business combination within the time
period required.
As such, the Company has determined to redeem
all of the outstanding Class A ordinary shares, par value $0.0001 per share, of the Company, effective as of the close of business on
or about September 29, 2023. The Company expects the last day of trading of its public shares, units, and warrants to be on or about September
27, 2023. The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or
otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
A copy of the press release is furnished as Exhibit 99.1 to this Current
Report on Form 8-K and incorporated herein by reference.
Forward-Looking Statements
This Current Report on Form 8-K includes “forward-looking statements”
within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Certain of these forward-looking
statements can be identified by the use of words such as “believes,” “expects,” “intends,” “plans,”
“estimates,” “assumes,” “may,” “should,” “will,” “seeks,” or other
similar expressions. These statements are based on current expectations on the date of this Form 8-K and involve a number of risks and
uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any
such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance
on forward-looking statements.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are provided
as part of this Form 8-K:
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 15, 2023 |
GLOBAL PARTNER ACQUISITION CORP II |
|
|
|
By: |
/s/ Chandra R. Patel |
|
Name:
Title: |
Chandra R. Patel
Chief Executive Officer |
2
Exhibit 99.1
Global Partner Acquisition Corp II Announces
Redemption of Class A Ordinary Shares
New York, NY, Sept. 15, 2023 (GLOBE NEWSWIRE)
-- Global Partner Acquisition Corp II, a Cayman Island exempted company (the “Company”) (Nasdaq: GPAC) and a special
purpose acquisition company, today announced that its board of directors (the “Board”) has determined not to extend the date
by which the Company must complete its initial business combination by an additional month. As such, the Company has determined to redeem
all of its outstanding Class A ordinary shares, par value $0.0001 per share, previously issued to the public (the “Public Shares”),
with such redemption anticipated to be effective on or about September 29, 2023, because the Company will not consummate an initial business
combination within the time period required by its amended and restated memorandum and articles (the “Articles”), filed with
the U.S. Securities and Exchange Commission (the “Commission”) on January 11, 2023. The Company expects the last day of trading
of its public shares, units and warrants to be on or about September 27, 2023.
On January
11, 2023, the Company held an extraordinary general meeting of shareholders of the Company (the “Extension Meeting”) to amend
the Articles to extend the date (the “Termination Date”)
by which the Company has to consummate a business combination from January 14, 2023 (the “Original Termination Date”)
to April 14, 2023 (the “Articles Extension Date”) and to allow the Company, without another shareholder vote, to elect to
extend the Termination Date to consummate a business combination on a monthly basis for up to nine times by an additional one month each
time after the Articles Extension Date, by resolution of the Company’s Board if requested by Global Partner Sponsor II LLC, a Delaware
limited liability company, and upon five days’ advance notice prior to the applicable Termination Date, until January 14, 2024,
or a total of up to twelve months after the Original Termination Date, unless the closing of the Company’s initial business combination
shall have occurred prior to such date (the “Extension Amendment Proposal”). The shareholders of the Company approved the Extension
Amendment Proposal at the Extension Meeting. Subsequently, by resolution of the Board, five additional one-month extensions were made
by the Company that extended the Termination Date to September 14, 2023, at which point the Board decided to not extend the Termination
Date any further as it had determined the Company would not consummate an initial business combination within the time period required.
As per the Company’s Articles, by not consummating
an initial business combination within the time period required, the Company will: (i) cease all operations except for the purpose of
winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Company’s trust account (the “Trust Account”),
including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, if any (less
up to $100,000 of interest to pay dissolution expenses), divided by the number of the then-outstanding Public Shares, which redemption
will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions,
if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining
shareholders and the Board, liquidate and dissolve, subject in the case of clauses (ii) and (iii), to the Company’s obligations
under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.
The per-share redemption price for the Public
Shares will be approximately $10.84 (the “Redemption Amount”), based on the amount in the Trust Account as of September 15,
2023. In accordance with the terms of the related trust agreement, the Company expects to retain $100,000 of the interest from the Trust
Account to pay dissolution expenses.
The Company anticipates that the last day of trading
in the Public Shares will be on or about September 27, 2023. On or about September 27, 2023, the Public Shares will be suspended from
trading, will be deemed cancelled and will represent only the right to receive the Redemption Amount.
The Redemption Amount will be payable to the holders
of the Public Shares upon presentation of their respective share or unit certificates or other delivery of their shares or units to the
Company’s transfer agent, Continental Stock Transfer & Trust Company. Beneficial
owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the Redemption
Amount.
There will be no redemption rights or liquidating
distributions with respect to the Company’s warrants. The Company’s initial shareholder has waived its redemption rights with
respect to the outstanding Class B ordinary shares par value $0.0001 per share, issued prior to the Company’s initial public offering.
As of September 14, 2023, the Company ceased all operations except for those required to wind up the Company’s business.
The Company expects that The Nasdaq Stock Market
LLC will file a Form 25 with the Commission to delist its securities. The Company thereafter expects to file a Form 15 with the Commission
to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended.
About Global Partner Acquisition Corp II
Global Partner Acquisition Corp II is a blank
check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press
release may include “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. All statements other than statements of historical fact included in
this press release are forward-looking statements, including, without limitation, the redemption of the Company’s Public Shares.
When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,”
“intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking
statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s
management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or
persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions,
many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s latest
Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. The Company undertakes no obligation to update
these statements for revisions or changes after the date of this release, except as required by law.
For more information, please contact:
info@gpac2.com
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