Globalink Investment Inc. Announces Charter and Trust Agreement Amendments
07 December 2024 - 9:00AM
Globalink Investment Inc. (Nasdaq: GLLI, GLLIW, GLLIR, GLLIU)
(“
Globalink” or the “
Company”), a
special purpose acquisition company, announced today that its
stockholders approved amendments to its charter and trust agreement
to extend the deadline to complete its initial business combination
and change the structure and cost of such extensions. Under the
amended charter, Globalink may extend the deadline to complete its
initial business combination by up to six (6) monthly extensions,
from December 9, 2024 to June 9, 2025 by depositing $60,000 into
its trust account (the “
Trust Account”) with
Continental Stock Transfer and Trust Company
(“
Continental”).
Globalink’s stockholders, at a special meeting
of its stockholders held on December 3, 2024, approved an amendment
to Globalink’s Amended and Restated Certificate of Incorporation,
as amended (the “Charter Amendment”), and
Globalink’s Investment Management Trust Agreement, as amended,
originally entered into on December 6, 2021 with Continental (the
“Trust Agreement Amendment”) to extend the
deadline to complete Globalink’s initial business combination from
December 9, 2024 to up to June 9, 2025 for up to six times of
monthly extensions, by depositing into the Trust Account $60,000
prior to each one-month extension.
The Charter Amendment triggered a right of
Globalink’s public stockholders to demand the redemption of their
public shares out of funds held in the Trust Account. Holders of
2,285,056 public shares properly requested redemption leaving
277,511 public shares outstanding. After payment of the redemption
price to the redeeming public shareholders of approximately $11.77
per share for an aggregate of $26.89 million, Globalink will have
approximately $3.27 million left in its Trust Account.
As a consequence of the adoption of the Charter
Amendment and the Trust Agreement Amendment and the redemptions,
Globalink can now obtain up to six monthly extensions, or up until
June 9, 2025, to complete its initial business combination at a
cost of $60,000 per extension.
About Globalink Investment
Inc.
Globalink is a blank check company formed for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. Although there is no
restriction or limitation on what industry or geographic region,
Globalink intends to pursue targets in North America, Europe, South
East Asia, and Asia (excluding China, Hong Kong and Macau) in the
technology industry, specifically within the medical technology and
green energy sectors.
Cautionary Statement Regarding
Forward-Looking Statements
Certain statements in this press release are
“forward-looking statements” within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and are subject to
the safe harbor created thereby. In some cases, forward-looking
statements can be identified by terminology such as “may,” “will,”
“could,” “would,” “should,” “expect,” “plan,” “anticipate,”
“intend,” “believe,” “estimate,” “predict,” “potential,” “outlook,”
“guidance” or the negative of those terms or other comparable
terminology. These statements are based on the current beliefs and
expectations of the Company’s management and are subject to
significant risks and uncertainties. Because these forward-looking
statements involve risks and uncertainties, there are important
factors that could cause future events to differ materially from
those in the forward-looking statements, many of which are outside
of the Company’s control. These factors include, but are not
limited to, a variety of risk factors affecting the Company’s
business and prospects, see the section titled “Risk Factors” in
the Company’s Prospectus filed with the SEC on December 6, 2021 and
subsequent reports filed with the SEC, as amended from time to
time. Any forward-looking statements are made only as of the date
hereof, and unless otherwise required by applicable securities
laws, the Company disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
Globalink Contact:
Say Leong LimGlobalink Investment Inc.Telephone:
+6012 405 0015Email: sllim@globalinkinvestment.com
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