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.