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Highlights
- Blank check firm Globalink is offering 10 million units in its initial public offering (IPO).
- It expects to raise US$100 million in gross proceeds before deducting underwriter's discounts and commissions and other offering expenses.
- The company's total assets were valued at US$111,331 as of Sept 8, 2021.
Blank check company Globalink Investment Inc. is set to start trading on Nasdaq Global Market (NASDAQ) under the ticker symbol GLLIU on Dec 7.
The company had announced the pricing of its initial public offering (IPO) on Dec 6.
It is offering 10 million shares for US$10.00 a piece in the IPO. It expects to raise US$100 million in gross proceeds before deducting underwriter's discounts and commissions and other offering expenses. Notably, each of the shares represents one share of its common stock.
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Globalink reported a net loss of US$1,000 for the period from March 24, 2021, to Sept 8, 2021. The company's total assets were valued at US$111,331 as of Sept 8, 2021.
Meanwhile, the offering is expected to close on Thursday, Dec 9.
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Additionally, the firm is offering a 45-day option for the underwriter to buy an additional 1.5 million shares at the IPO price, excluding underwriting discounts and commissions, in case of any over-allotments. The sole book-running manager for the proposed offer is Chardan.
Globalink, established for effecting a merger, share exchange, asset acquisition, etc., is led by its CEO Say Leong Lim.
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Bottomline
Stock markets are volatile. Hence, investors should carefully evaluate the companies and the market before investing in stocks.
