UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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The Stock Market LLC | ||||
The Stock Market LLC | ||||
The Stock Market LLC |
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Item 1.01. Entry into a Material Definitive Agreement.
The disclosure contained in Item 2.03 is incorporated by reference in this Item 1.01
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On December 10, 2021, Globis Acquisition Corp. (the “Company”) drew down $1,150,000 under an unsecured promissory note (the “Note”) that was previously issued to Globis SPAC LLC, the Company’s initial public offering sponsor (the “Sponsor”). The proceeds from the draw down have been deposited into the Company’s trust account in order to extend the period of time the Company has to complete its initial business combination (the “completion window”). As a result, the completion window was extended by 3 months from the current deadline of December 15, 2021 until March 15, 2022. The Company’s stockholders are not entitled to vote on or redeem their shares in connection with such extension of the completion window. The Note does not bear interest and matures upon closing of a business combination by the Company.
Item 8.01 Other Events.
On December 10, 2021, the Company issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing that the completion window was extended until March 15, 2022 because the Sponsor has timely deposited $1,150,000 in the Company’s trust account.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. | Description | |
99.1 | Press Release dated December 10, 2021 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
GLOBIS ACQUISITION CORP. | ||
By: | /s/ Paul Packer | |
Name: | Paul Packer | |
Title: | Chief Executive Officer and Chief Financial Officer |
Date: December 10, 2021
Exhibit 99.1
Globis Acquisition Corp. Announces Extension of Completion Window to March 15, 2022
New York, NY, Dec. 10, 2021 — Globis Acquisition Corp. (NASDAQ: GLAQU, GLAQ, GLAQW, the “Company”) announced today that it has extended the period of time it will have to consummate its initial business combination by 3 months from the current deadline of December 15, 2021 until March 15, 2022. Globis SPAC LLC, the Company’s initial public offering sponsor, has timely deposited $1,150,000 in the Company’s trust account. The purpose of the extension is to provide time for the Company to complete a business combination.
About Globis Acquisition Corp.
Globis Acquisition Corp. 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. Globis Acquisition Corp. intends to focus its search on a target business that will benefit from trends toward economic globalization, particularly as it affects emerging markets. The proceeds of the offering will be used to fund such business combination.
Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.
Contact:
Hayden IR
Brett Maas
(646) 536-7331
brett@haydenir.com
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