New York, NY, May 08, 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 May 5, 2025, it caused to be deposited $60,000 (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 May 9, 2025 to June 9, 2025. The extension is the ...

New York, NY, April 08, 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 April 8, 2025, it caused to be deposited $60,000 (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 April 9, 2025 to May 9, 2025. The extension i ...

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].

Financial Performance - As of June 30, 2024, the company reported a net loss of $217,185, primarily due to operating expenses of $419,611 and interest expense of $43,602, partially offset by interest income of $344,645 from the Trust Account[111]. - For the six months ended June 30, 2024, the company had a net loss of $592,492, with total operating expenses of $1,023,082 and interest income of $687,312 from the Trust Account[111]. - The company generated a net income of $970,571 for the six months ended June 30, 2023, driven by interest income of $1,929,116 from the Trust Account, despite operating expenses of $468,947[112]. Initial Public Offering (IPO) and Business Combination - The company completed its IPO on December 9, 2021, raising gross proceeds of $100,000,000 from the sale of 10,000,000 units, with each unit priced at $10.00[113]. - The company has extended the deadline to complete its initial business combination to September 9, 2024, with the possibility of further extensions up to December 9, 2024[104]. - The company entered into a Merger Agreement on January 30, 2024, to combine with Alps Global Holding Pubco, with the transaction structured in two steps[106]. - The Company has until September 9, 2024, to consummate a business combination, extendable to December 9, 2024, with substantial doubt about its ability to continue as a going concern if not completed[131]. Capital and Funding - The company plans to raise additional capital through a PIPE Investment, agreeing to sell shares at $10.00 per share for a total of $40,000,000[107]. - The Company may need to raise additional capital if the initial business combination is not consummated, which could involve loans or investments from various stakeholders[129]. - The total amount owed in connection with promissory notes as of June 30, 2024, was $3,384,252, including accrued interest[140]. - The Company entered into multiple promissory notes with Public Gold Marketing Sdn Bhd, totaling $2,390,000 for extension fees and working capital, all fully borrowed as of June 30, 2024[123][124][125][126][127][128][137][138][139][140]. Trust Account and Cash Management - As of June 30, 2024, the cash held in the Trust Account was $29,281,763, an increase from $28,668,218 as of December 31, 2023[120]. - Interest income from the Trust Account for the six months ended June 30, 2024, was $687,312, with $433,768 withdrawn for tax payments[120]. - The Company had $143,153 in cash held outside the Trust Account as of June 30, 2024, compared to $79,073 as of December 31, 2023[121]. - The company has liquidated U.S. government securities in its Trust Account and is holding all funds in cash to mitigate risks associated with being deemed an unregistered investment company[117]. Operating Activities - Cash used in operating activities for the six months ended June 30, 2024, was $1,559,688, compared to $1,039,268 for the same period in 2023[118]. - As of June 30, 2024, the company had not commenced any operations and relies on interest income from the Trust Account for non-operating income[110]. Debt and Liabilities - The Company does not have any long-term debt, capital lease obligations, or off-balance sheet arrangements as of June 30, 2024[132][133]. - The company has no obligations or liabilities related to off-balance sheet arrangements as of June 30, 2024[132]. Accounting and Reporting - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[142]. - 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[143]. - Management's financial estimates are based on significant judgments and historical experience, ensuring compliance with U.S. GAAP[144]. - The company accounts for warrants as either equity or liability based on specific terms, with private warrants classified as liabilities at fair value[145]. - The fair value of private placement warrants is estimated using assumptions related to exercise price, market price, expected life, and risk-free interest rate[146]. - Management does not anticipate that recently issued accounting standards will materially affect its financial statements as of June 30, 2024[147]. - There were no changes in internal control over financial reporting that materially affected the company's controls during the most recent fiscal quarter[151]. - The company plans to enhance processes to better evaluate complex accounting standards over time[151]. Underwriting and Discounts - The underwriters are entitled to a deferred underwriting discount of $4,025,000 from the Trust Account upon completion of an initial business combination[134].

Group 1 - Globalink Investment Inc. announced an extension of its deadline to complete its initial business combination from June 9, 2024, to July 9, 2024, by depositing $60,000 into its trust account [4] - This extension marks the twelfth extension since the company's initial public offering on December 9, 2021, and the seventh of twelve extensions allowed under its governing documents [4] Group 2 - Globalink is a special purpose acquisition company (SPAC) formed to pursue mergers, share exchanges, asset acquisitions, and similar business combinations with one or more businesses [6] - The company intends to target opportunities in the medical technology and green energy industries across North America, Europe, Southeast Asia, and Asia (excluding China, Hong Kong, and Macau) [6]

Financial Performance - As of March 31, 2024, the company reported a net loss of $375,307, primarily due to operating expenses of $603,471 and interest expenses of $33,395[133]. - For the three months ended March 31, 2023, the company had a net income of $682,939, driven by interest income of $1,257,477 from investments held in the Trust Account[134]. - The company generated gross proceeds of $100,000,000 from its IPO, selling 10,000,000 units at $10.00 per unit[135]. - Cash used in operating activities for the three months ended March 31, 2024, was $885,807, compared to $79,619 for the same period in 2023[140][141]. Trust Account and Cash Management - The company had cash held in the Trust Account of $29,047,273 as of March 31, 2024, with interest income of $342,667 for the quarter[142]. - The company intends to use substantially all funds in the Trust Account to complete its business combination, with remaining proceeds allocated for working capital[143]. - The underwriters are entitled to a deferred underwriting discount of $4,025,000 from the closing of the IPO, payable only if the Company completes an initial business combination[162]. Business Combination and Extensions - The company has extended the deadline to complete its initial business combination to June 9, 2024, with the possibility of further extensions up to December 9, 2024[129]. - The Company has a deadline until June 9, 2024, to consummate a business combination, which can be extended to December 9, 2024, if requested by the Sponsor[157]. - If the business combination is not consummated by the deadline, the Company may face mandatory liquidation and potential dissolution[157]. Debt and Financial Obligations - The company has no working capital loans outstanding as of March 31, 2024, but has entered into promissory notes totaling $640,000 for extension fees, repayable upon consummation of an initial business combination[146][147]. - The Company has borrowed a total of $2,640,649 in connection with promissory notes as of March 31, 2024, which includes accrued interest[172]. - The Company entered into multiple promissory notes with Public Gold Marketing Sdn Bhd, including $700,000 for extension fees, $250,000 for working capital, and $300,000 for working capital, all bearing an interest of 6% per annum[166][149][153]. - As of March 31, 2024, the full amounts of the promissory notes have been borrowed, with no additional amounts available under these notes for borrowing[166][149][153]. - The Company has no long-term debt, capital lease obligations, operating lease obligations, or long-term liabilities as of March 31, 2024[160]. - The Company has no off-balance sheet arrangements or obligations as of March 31, 2024[158]. Regulatory and Compliance - The Company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[173]. - The company may need to raise additional capital through loans or investments if the initial business combination is not consummated[155]. Operating Status - The company has not commenced any operations and will not generate operating revenues until after completing an initial business combination[132]. - The company incurred offering costs of $6,887,896 related to the IPO, including $2,300,000 in underwriting fees[137].

New York, NY, April 09, 2024 (GLOBE NEWSWIRE) -- Globalink Investment Inc. (NASDAQ:GLLI, GLLIW, GLLIR, GLLIU))) ("Globalink" or the "Company"), a special purpose acquisition company, announced today that on April 9, 2024, it caused to be deposited $60,000 (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 April 9, 2024 to May 9, 2024. The extension is ...