- Business
- Global Partner Acquisition Corp II (GPAC II) is a Cayman Islands exempted blank check company formed in 2020 as a special purpose acquisition company (SPAC) focused on effecting mergers, share exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more target businesses; it raised $300 million in its upsized initial public offering in January 2021 through the sale of 30 million units listed on Nasdaq under the ticker GPACU, each comprising one Class A ordinary share, one redeemable warrant, and a contingent right to additional warrants. Headquartered in New York and led by executives from Antarctica Capital, an international investment firm with approximately $1.5 billion in assets under management, GPAC II targets consumer-related sectors including e-commerce and retail disruptors, food and branded products, consumerization of healthcare, and enabling services and technologies; it employs a unique APEX SPAC™ structure to align interests among founders, investors, and merger partners for enhanced growth and value creation, building on the management team's track record with GPAC I's successful merger with Purple Innovation Inc. GPAC II completed its business combination with Stardust Power Inc., a development-stage American manufacturer of battery-grade lithium products, in July 2024, with shareholders approving the transaction in June 2024 and the combined entity beginning to trade on Nasdaq under the ticker SDST.