Globalink Investment Inc.(GLLIU) - 2021 Q3 - Quarterly Report

Financial Performance - As of September 30, 2021, the company reported a net loss of $1,000 for both the three months ended and the period from inception through September 30, 2021, primarily due to general and administrative expenses[85]. - The Company reported a net loss per share, calculated by dividing net loss by the weighted average number of common stock outstanding during the period[106]. - As of September 30, 2021, the Company had no dilutive securities, resulting in diluted loss per share being the same as basic loss per share[106]. 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[87]. - In addition to the IPO, the company raised $5,175,000 from the sale of 517,500 Private Placement Units at $10.00 each[88]. - The underwriters exercised an over-allotment option, resulting in an additional $15,000,000 in gross proceeds from the sale of 1,500,000 units[89]. - Total cash placed in the Trust Account after the IPO and over-allotment was $116,725,000, which will be invested in U.S. government securities[92]. Cash and Debt Management - The company has no cash used in operating activities as of September 30, 2021[93]. - The company had $70,000 in borrowings under a promissory note as of September 30, 2021, which was repaid on December 13, 2021[95]. - The company does not have any long-term debt or capital lease obligations as of September 30, 2021[99]. - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[94]. - The company has not entered into any off-balance sheet financing arrangements as of September 30, 2021[98]. Risk Management - As of September 30, 2021, the Company was not subject to any market or interest rate risk, with net proceeds held in U.S. government securities[109]. - The investments in the Trust Account have a maturity of 180 days or less, minimizing exposure to interest rate risk[109]. Accounting Policies - The Company accounts for warrants based on specific terms, determining that Public Warrants and Private Placement Warrants qualify for equity accounting treatment[107]. - Management believes that recently issued accounting standards, if adopted, would not have a material effect on the condensed financial statements[108].