UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): December 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 or organization) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification Number) |
200 Park Avenue 32nd Floor
New York, NY |
|
10166 |
(Address of principal executive
offices) |
|
(Zip Code) |
(646)
585-8975
Registrant’s
telephone number, including area code
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 to 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 or Rule 12b-2
of the Securities Exchange Act of 1934.
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
2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement or a Registrant.
On
December 14, 2023, Global Partner Acquisition Corp II (the “Company” or “GPAC II”) drew an aggregate of $150,000
(the “Extension Funds”), as approved by unanimous director resolution, dated December 6, 2023, pursuant to the
Promissory Note, dated January 13, 2023 between the Company and Global Partner Sponsor II LLC (the “Note”), which
Extension Funds the Company deposited into the Company’s trust account for its public shareholders. This deposit enables the
Company to extend the date by which it must complete its initial business combination from December 14, 2023 to January 14, 2023
(the “Extension”). The Extension is the ninth of nine one-month extensions permitted under the Company’s amended
and restated memorandum and articles of association and provides the Company with additional time to complete its initial business
combination. The Note does not bear interest and matures upon closing of the Company’s initial business combination. In the
event that the Company does not consummate a business combination, the Note will be repaid only from amounts remaining outside of
the Company’s trust account, if any. Up to $1,750,000 of the total principal amount of the Note may be converted, in whole or
in part, at the option of the lender into warrants of the Company at a price of $1.50 per warrant, which warrants will be identical
to the private placement warrants issued to Global Partner Sponsor II LLC at the time of the initial public offering of the
Company.
Forward-Looking Statements
The information included herein and in any oral
statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Exchange Act. All statements, other than statements of present or historical fact included herein,
regarding the proposed business combination, GPAC II’s and Stardust Power Inc’s (the “Stardust Power”) ability
to consummate the transaction, the benefits of the transaction, GPAC II’s and Stardust Power’s future financial performance
following the transaction, as well as GPAC II’s and Stardust Power’s strategy, future operations, financial position, estimated
revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein,
including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,”
“believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,”
the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking
statements contain such identifying words.
These forward-looking statements are based on GPAC II’s and Stardust
Power’s management’s current expectations and assumptions about future events and are based on currently available information
as to the outcome and timing of future events. GPAC II and Stardust Power caution you that these forward-looking statements are subject
to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of GPAC II and Stardust Power.
These risks include, but are not limited to, (i) the risk that the proposed business combination may not be completed in a timely manner
or at all, which may adversely affect the price of GPAC II’s securities; (ii) the risk that the proposed business combination may
not be completed by GPAC II’s business combination deadline and the potential failure to obtain an extension of the business combination
deadline if sought by GPAC II; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including
the approval of the proposed business combination by GPAC II’s shareholders and Stardust Power’s stockholders, the satisfaction
of the minimum trust account amount following redemptions by GPAC II’s public shareholders and the receipt of certain governmental
and regulatory approvals; (iv) the effect of the announcement or pendency of the proposed business combination on Stardust Power’s
business relationships, performance, and business generally; (v) risks that the proposed business combination disrupts current plans of
Stardust Power and potential difficulties in Stardust Power’s employee retention as a result of the proposed business combination;
(vi) the outcome of any legal proceedings that may be instituted against GPAC II or Stardust Power related to the agreement and the proposed
business combination; (vii) changes to the proposed structure of the business combination that may be required or appropriate as a result
of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; (viii) the ability to
maintain the listing of GPAC II’s securities on the Nasdaq; (ix) the price of GPAC II’s securities, including volatility resulting
from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across
competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure;
(x) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination,
and identify and realize additional opportunities; (xi) the impact of the global COVID-19 pandemic; and (xii) other risks and uncertainties
related to the transaction set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in GPAC II’s prospectus relating to its initial Public Offering (File No. 333-351558) declared effective by the
U.S. Securities and Exchange Commission (the “SEC”) on January 11, 2021 and other documents filed, or to be filed with the
SEC by GPAC II, including GPAC II’s periodic filings with the SEC, including GPAC II’s Annual Report on Form 10-K filed with
the SEC on March 31, 2023 and any subsequently filed Quarterly Report on Form 10-Q. GPAC II’s SEC filings are available publicly
on the SEC’s website at http://www.sec.gov.
The foregoing list of factors is not exhaustive. There may be additional
risks that neither GPAC II nor Stardust Power presently know or that GPAC II or Stardust Power currently believe are immaterial that could
also cause actual results to differ from those contained in the forward-looking statements. You should carefully consider the foregoing
factors and the other risks and uncertainties that will be described in GPAC II’s proxy statement contained in the registration
statement on Form S-4 (the “Registration Statement”), including those under “Risk Factors” therein, and other
documents filed by GPAC II from time to time with the SEC. These filings identify and address other important risks and uncertainties
that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and
GPAC II and Stardust Power assume no obligation and, except as required by law, do not intend to update or revise these forward-looking
statements, whether as a result of new information, future events, or otherwise. Neither GPAC II nor Stardust Power gives any assurance
that either GPAC II or Stardust Power will achieve its expectations.
Important Information About the Business Combination
and Where to Find It
In connection with the proposed business combination,
GPAC II will file a Registration Statement with the SEC that will include a preliminary prospectus with respect to GPAC II’s securities
to be issued in connection with the proposed transactions and a preliminary proxy statement with respect to the shareholder meeting of
GPAC II to vote on the proposed transactions (the “proxy statement/prospectus”). GPAC II may also file other documents regarding
the proposed business combination with the SEC. The proxy statement/prospectus will contain important information about the proposed business
combination and the other matters to be voted upon at an extraordinary general meeting of GPAC II’s shareholders to be held to approve
the proposed business combination and other matters and may contain information that an investor may consider important in making a decision
regarding an investment in GPAC II’s securities. BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS OF GPAC II AND OTHER INTERESTED
PARTIES ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO)
AND OTHER DOCUMENTS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT GPAC II, STARDUST POWER AND THE PROPOSED BUSINESS COMBINATION.
After the Registration Statement is declared effective, the definitive proxy statement/prospectus to be included in the Registration Statement
will be mailed to shareholders of GPAC II as of a record date to be established for voting on the proposed transaction. Once available,
shareholders of GPAC II will also be able to obtain free copies of the Registration Statement, including the proxy statement/prospectus,
and other documents containing important information about GPAC II and Stardust Power once such documents are filed with the SEC, through
the website maintained by the SEC at http://www.sec.gov or by directing a request to Global Partner Acquisition Corp II, 200 Park Avenue
32nd Floor, New York, New York 10166, attention: Global Partner Sponsor II LLC.
Participants in the Solicitation
GPAC II, Stardust Power and certain of their respective
directors and executive officers may be deemed participants in the solicitation of proxies from GPAC II’s shareholders with respect
to the proposed business combination. A list of the names of those directors and executive officers of GPAC II and a description of their
interests in GPAC II is set forth in GPAC II’s filings with the SEC (including GPAC II’s prospectus relating to its initial
public offering (File No. 333-251558) declared effective by the SEC on January 11, 2021, GPAC II’s Annual Report on Form 10-K filed
with the SEC on March 31, 2023 and subsequent filings on Form 10-Q and Form 4). Additional information regarding the interests of those
persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the Registration
Statement. The documents described in this paragraph are available free of charge at the SEC’s website at www.sec.gov, or by directing
a request to Global Partner Acquisition Corp II, 200 Park Avenue 32nd Floor, New York, New York 10166, attention: Global Partner Sponsor
II LLC. Additional information regarding the names and interests of such participants will be contained in the Registration Statement
for the proposed business combination when available.
No Offer or Solicitation
This communication is not a proxy statement or
solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall
not constitute an offer to sell or a solicitation of an offer to buy the securities of GPAC II, Stardust Power or the combined company,
nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.
SIGNATURE
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.
Dated:
December 14, 2023
GLOBAL PARTNER ACQUISITION CORP II |
|
|
|
By: |
/s/ Chandra
R. Patel |
|
Name: |
Chandra R. Patel |
|
Title: |
Chief Executive Officer |
|
3
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