Globalink Investment(GLLI)

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Globalink Investment(GLLI) - 2025 Q2 - Quarterly Report
2025-08-26 20:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-41122 GLOBALINK INVESTMENT INC. (Exact name of registrant as specified in its charter) Delaware 36-4984573 (State or other jurisdiction ...
Globalink Investment Inc. Announces Extension of the Deadline to Complete a Business Combination to August 9, 2025
Globenewswire· 2025-07-07 20:05
Company Overview - Globalink Investment Inc. is a special purpose acquisition company 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 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 July 3, 2025, Globalink deposited $0.15 per public share, totaling $10,890.15, into its trust account to extend the deadline for completing its initial business combination from July 9, 2025, to August 9, 2025 [1] - This extension marks the twenty-fifth extension since the company's initial public offering on December 9, 2021, and is the second of up to six extensions permitted under the company's governing documents [1]
Globalink Investment Inc. Announces Charter and Trust Agreement Amendments
Globenewswire· 2025-06-10 20:30
Core Viewpoint - Globalink Investment Inc. has received approval from its stockholders to extend the deadline for completing its initial business combination until December 9, 2025, allowing for up to six monthly extensions at a cost of $0.15 per public share [1][2][4] Group 1: Amendments and Extensions - The stockholders approved amendments to the charter and trust agreement, enabling the extension of the deadline for the initial business combination from June 9, 2025, to December 9, 2025 [2][4] - Globalink can obtain up to six monthly extensions by depositing $0.15 per public share into its trust account prior to each extension [1][4] Group 2: Redemption Rights - The Charter Amendment triggered a right for public stockholders to demand redemption of their shares, resulting in 204,910 public shares being redeemed, leaving 72,601 public shares outstanding [3][4] Group 3: Company Overview - Globalink is a special purpose acquisition company formed to pursue mergers, share exchanges, asset acquisitions, and similar business combinations, with a focus on the technology industry, particularly in medical technology and green energy sectors across North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) [5]
Globalink Investment Inc. Announces Extension of the Deadline to Complete a Business Combination to July 9, 2025
Globenewswire· 2025-06-06 20:05
Core Viewpoint - Globalink Investment Inc. has extended the deadline for its initial business combination by depositing $0.15 per public share into its trust account, marking the twenty-fourth extension since its IPO in December 2021 [1] Company Overview - Globalink is a special purpose acquisition company (SPAC) formed to pursue mergers, share exchanges, asset acquisitions, and similar business combinations without restrictions on industry or geographic region [2] - The company intends to target businesses in North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) specifically in the medical technology and green energy sectors [2]
Globalink Investment(GLLI) - 2025 Q1 - Quarterly Report
2025-06-03 23:44
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].
Globalink Investment Inc. Announces Extension of the Deadline to Complete a Business Combination to June 9, 2025
Globenewswire· 2025-05-08 20:05
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]
Globalink Investment Inc. Announces Extension of the Deadline to Complete a Business Combination to May 9, 2025
Globenewswire· 2025-04-08 20:15
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]
Globalink Investment(GLLI) - 2024 Q4 - Annual Report
2025-03-25 00:27
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].
Globalink Investment Inc. Announces Extension of the Deadline to Complete a Business Combination to March 9, 2025
Globenewswire· 2025-02-06 21:10
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]
Globalink Investment Inc. Announces Extension of the Deadline to Complete a Business Combination to February 9, 2025
Globenewswire· 2025-01-08 21:00
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]