New York, NY, July 07, 2025 (GLOBE NEWSWIRE) -- Globalink Investment Inc. (OTC Pink: GLLI, GLLIW, GLLIR, GLLIU) (“Globalink” or the “Company”), a special purpose acquisition company, announced today that on July 3, 2025, it caused to be deposited $0.15 per public share, totaling $10,890.15 (the “Extension Payment”) into its trust account (the “Trust Account”) with Continental Stock Transfer and Trust Company (“Continental”) to extend the deadline to complete its initial business combination from July 9, 202 ...

New York, NY, June 10, 2025 (GLOBE NEWSWIRE) -- Globalink Investment Inc. (OTC Pink: 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 ...

New York, NY , June 06, 2025 (GLOBE NEWSWIRE) -- Globalink Investment Inc. (OTC Pink: GLLI, GLLIW, GLLIR, GLLIU) (“Globalink” or the “Company”), a special purpose acquisition company, announced today that on June 5, 2025, it caused to be deposited $0.15 per public share, totaling $10,890.15 (the “Extension Payment”) into its trust account (the “Trust Account”) with Continental Stock Transfer and Trust Company (“Continental”) to extend the deadline to complete its initial business combination from June 9, 20 ...

Financial Performance - As of March 31, 2025, the company reported a net loss of $738,555, which included interest expense of $285,197 and general and administrative expenses of $270,256 [176]. - For the three months ended March 31, 2024, the company had a net loss of $375,307, driven by operating expenses of $603,471 and interest income of $342,667 [177]. - The company generates non-operating income from interest on proceeds held in a trust account, with interest income of $32,099 reported for the three months ended March 31, 2025 [175]. Initial Public Offering (IPO) - The company completed its IPO on December 9, 2021, raising gross proceeds of $100,000,000 from the sale of 10,000,000 units at $10.00 per unit [178]. - The company raised a total of $15,000,000 from the issuance of 1,500,000 units at a price of $10.00 per unit during the IPO [179]. - Offering costs for the IPO and the exercise of the underwriters' Over-allotment Option amounted to $6,887,896, including $2,300,000 in underwriting fees [180]. Business Combination and Merger Agreement - The company has extended the deadline to complete its initial business combination to June 9, 2025, having done so six times under its amended certificate of incorporation [164]. - The company entered into a Merger Agreement on January 30, 2024, with Alps Global Holding Pubco, which will result in Alps Holdco becoming a wholly-owned subsidiary of PubCo [165]. - The company expects to continue with the transactions outlined in the Merger Agreement despite the delisting of its securities [174]. Delisting and Compliance - The company received a delisting notice from Nasdaq on December 10, 2024, due to non-compliance with the requirement to complete a business combination within 36 months of its IPO [172]. - Following the delisting, the company's securities have been quoted on the OTC Pink market since December 17, 2024 [173]. Trust Account and Cash Management - As of March 31, 2025, cash held in the Trust Account was $3,561,690, with interest income of $32,099 for the three months ended March 31, 2025 [186]. - The company intends to use substantially all funds in the Trust Account to complete its business combination [187]. - The company had cash held outside the Trust Account amounting to $3,468 as of March 31, 2025, intended for evaluating target businesses [188]. Debt and Financing - As of March 31, 2025, the company had borrowed a total of $3,844,923 under various promissory notes, which includes $16,570 in additional interest expense [206]. - The company entered into multiple promissory notes with Public Gold Marketing Sdn Bhd, totaling $2,750,000 for working capital and extension fees, all repayable upon consummation of an initial business combination [190][191][192][193][194][196][197][198][199][201][202][203]. - The Company recorded a gain on modification of terms of promissory notes and advances from affiliates amounting to $880,656 [206]. Related Party Transactions - As of March 31, 2025, the aggregate principal amount owed to related parties in connection with promissory notes was $4,507,595, reflecting an increase from $4,445,458 as of December 31, 2024 [219]. - The net amount of the convertible notes related to the affiliate was $334,885, included in the consolidated balance sheet as of March 31, 2025 [209]. Going Concern and Future Capital Needs - The Company has until June 9, 2025, to complete the initial business combination, with substantial doubt raised about its ability to continue as a going concern if not completed [212]. - The Company may need to raise additional capital through loans or investments if the initial business combination is not consummated [210]. - The Company intends to complete a business combination before the mandatory liquidation date to avoid dissolution [212]. Accounting and Compliance - The Company is evaluating the impact of recent accounting pronouncements, including ASU 2023-09, which requires expanded disclosures of income taxes paid [228].

Group 1 - Globalink Investment Inc. has extended the deadline to complete its initial business combination from May 9, 2025, to June 9, 2025, by depositing $60,000 into its trust account [1] - This extension marks the twenty-third extension since the company's initial public offering on December 9, 2021, and the sixth of up to six extensions permitted under its governing documents [1] Group 2 - Globalink is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses [2] - The company intends to pursue targets in North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) within the medical technology and green energy industries [2]

Company Overview - Globalink Investment Inc. is a special purpose acquisition company (SPAC) formed to effect mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses [2] - The company has no restrictions on the industry or geographic region for its targets, but it intends to focus on the medical technology and green energy sectors in North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) [2] Recent Developments - On April 8, 2025, Globalink deposited $60,000 into its trust account to extend the deadline for completing its initial business combination from April 9, 2025, to May 9, 2025 [1] - This extension marks the twenty-second extension since the company's initial public offering on December 9, 2021, and is the fifth of up to six extensions allowed under its governing documents [1]

Financial Performance - The company reported a net loss of $978,445 for the year ended December 31, 2024, primarily due to operating expenses of $1,569,710[294]. - For the year ended December 31, 2023, the company achieved a net income of $1,320,324, driven by interest income of $3,090,407 from the trust account[295]. - For the year ended December 31, 2024, cash used in operating activities was $2,039,334, with a net loss of $978,445[301]. - For the year ended December 31, 2023, cash used in operating activities was $1,402,478, with a net income of $1,320,324[302]. - Interest income on the Trust Account balance for the year ended December 31, 2024, was $1,285,520, which may be used to pay taxes[303]. Capital Raising and Business Combination - The company raised gross proceeds of $100,000,000 from its IPO by selling 10,000,000 units at $10.00 per unit[296]. - The company has secured PIPE agreements totaling $40,200,000 at a purchase price of $10.00 per share, aimed at raising additional capital post-business combination[288]. - The Company intends to use substantially all funds held in the Trust Account to complete its business combination[304]. - The Company has until April 9, 2025, to complete its initial business combination, or it will face mandatory liquidation[324]. - The company entered into a merger agreement on January 30, 2024, with Alps Global Holding Pubco, which will result in Alps Holdco becoming a wholly-owned subsidiary of PubCo[287]. - The company has extended the deadline to complete its initial business combination to April 9, 2025, having done so four times under its amended certificate of incorporation[286]. - The company may need to raise additional capital if the initial business combination is not consummated by the deadline[323]. Trust Account and Cash Management - Cash held in the Trust Account was $3,349,591 as of December 31, 2024, compared to $28,668,218 as of December 31, 2023[303]. - The company placed $116,725,000 from the IPO proceeds into a trust account, initially invested in U.S. government securities[299]. - The company instructed the trustee to liquidate U.S. government securities in the trust account and hold funds in cash to mitigate the risk of being deemed an unregistered investment company[300]. - As of December 31, 2024, the Company had $253,507 in cash held outside the Trust Account, up from $79,073 in 2023[305]. - The total amount owed in connection with promissory notes was $4,445,458 as of December 31, 2024, an increase from $1,757,255 as of December 31, 2023[330]. Compliance and Regulatory Matters - The company received a delisting notice from Nasdaq due to non-compliance with the requirement to complete a business combination within 36 months of its IPO[292]. - The company is evaluating the benefits of reduced reporting requirements under the JOBS Act, which may exempt it from certain disclosures for five years post-IPO[332]. - The company qualifies as a smaller reporting company and is not required to provide certain market risk disclosures[337]. Accounting and Financial Reporting - Management's financial statements are prepared in accordance with U.S. GAAP, with significant accounting policies requiring professional judgment and estimates[333]. - The company classifies warrants as either equity or liability based on specific terms, with public warrants treated as equity and private warrants as liabilities[334]. - The fair value of private placement warrants is estimated using a binomial lattice model, considering factors like exercise price and market price[335]. - Management does not anticipate that recently issued accounting standards will materially affect consolidated financial statements as of December 31, 2024[336]. - The Company has no long-term debt or off-balance sheet arrangements as of December 31, 2024[325][326].

Group 1 - Globalink Investment Inc. has extended the deadline to complete its initial business combination from February 9, 2025, to March 9, 2025, by depositing $60,000 into its trust account [1] - This extension marks the twentieth extension since the company's initial public offering on December 9, 2021, and the third of up to six extensions allowed under its governing documents [1] Group 2 - Globalink is a blank check company aimed at merging, acquiring, or reorganizing with businesses, with no restrictions on industry or geographic region [2] - The company intends to focus on targets in North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) within the medical technology and green energy sectors [2]

Company Overview - Globalink Investment Inc. is a special purpose acquisition company (SPAC) formed to effect mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses [2] - The company has no restrictions on the industry or geographic region for its targets, but it intends to focus on the medical technology and green energy sectors in North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) [2] Recent Developments - On January 6, 2025, Globalink deposited $60,000 into its trust account to extend the deadline for completing its initial business combination from January 9, 2025, to February 9, 2025 [1] - This extension marks the nineteenth extension since the company's initial public offering on December 9, 2021, and is the second of up to six extensions allowed under the company's governing documents [1]

Financial Performance - As of September 30, 2024, the Company reported a net loss of $116,747, primarily due to operating expenses including general and administrative expenses of $287,590 and interest expense of $51,814[147]. - For the nine months ended September 30, 2024, the Company had a net loss of $709,239, with total operating expenses of $1,310,672 and interest income from the Trust Account amounting to $1,036,806[148]. - The Company reported a net income of $1,224,868 for the nine months ended September 30, 2023, primarily from interest income of $2,550,909[150]. - For the nine months ended September 30, 2023, cash used in operating activities was $1,174,478, while net income was $1,224,868, influenced by interest earned on cash and investments of $2,550,909[157]. Trust Account and Cash Management - The Trust Account held $116,725,000 in cash after the IPO, which was initially invested in U.S. government securities[154]. - As of September 30, 2024, cash held in the Trust Account was $29,811,256, with interest income of $1,036,806 for the nine months ended September 30, 2024, of which $433,768 was withdrawn for taxes[159]. - The Company intends to use funds in the Trust Account primarily to complete a business combination, with remaining proceeds allocated for working capital and potential acquisitions[160]. - As of September 30, 2024, cash held outside the Trust Account was $65,221, intended for evaluating target businesses and conducting due diligence[161]. Business Combination and Operations - The Company has until December 9, 2024, to complete its initial business combination, having extended the deadline multiple times since its IPO[140]. - The Company has incurred significant costs in pursuit of acquisition plans, with no assurance of successful completion of a business combination[139]. - The Company has until December 9, 2024, to complete the initial business combination, with uncertainty regarding the ability to consummate by this date[177]. - If the initial business combination is not completed, the Company may need to raise additional capital through loans or investments, which may not be guaranteed[175]. Funding and Capital Structure - The Company generated gross proceeds of $100,000,000 from its IPO, selling 10,000,000 units at $10.00 per unit, and an additional $15,000,000 from the over-allotment option[151][152]. - The Company entered into PIPE Subscription Agreements to raise $40,200,000 by issuing shares at $10.00 per share, aimed at funding operations post-business combination[143][144]. - The total amount owed in connection with promissory notes as of September 30, 2024, was $3,736,066, including accrued interest[182]. - The Company has entered into multiple promissory notes with Public Gold Marketing Sdn Bhd, totaling $2,040,000 for extension fees and working capital, all fully borrowed as of September 30, 2024[163][164][165][166][167][169][170][171][172][173][174]. Compliance and Regulatory Matters - The Company has regained compliance with Nasdaq's requirement of 300 public holders for continued listing on the Nasdaq Capital Market[141]. - The Company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[184]. Accounting and Financial Reporting - The Company accounts for warrants as either equity-classified or liability-classified instruments based on specific terms and applicable guidance[187]. - Public warrants meet the criteria for equity treatment, while private warrants are classified as liabilities at fair value[187]. - The fair value of private placement warrants is estimated using assumptions related to exercise price, market price, expected life, and risk-free interest rate[188]. - The fair value of the warrants is remeasured at each balance sheet date until exercised, with changes recognized in consolidated statements of operations[187]. - The Company does not expect any recently issued accounting standards to materially affect its financial statements as of September 30, 2024[189].