Globis Capital and Chardan's SPAC Globis Acquisition files for a $100 million IPO

Globis Acquisition, a blank check company formed by Globis Capital Advisors and Chardan Capital Markets targeting economic globalization, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The New York, NY-based company plans to raise $100 million by offering 10 million units at $10. Each unit will consist of one share of common stock and one whole warrant, exercisable at $11.50. At the proposed deal size, Globis Acquisition will command a market value of $131 million.

The company is led by CEO, CFO, and Director Paul Packer, who founded Globis Capital Advisors and has served as Managing Member since its 2001 inception. Globis Acquisition intends to focus on companies that are well positioned to benefit from economic globalization, particularly as it affects emerging markets. This includes sectors such as agriculture, food, and water resources; mining and natural resources; transportation and logistics; energy; and telecommunications.

Globis Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol GLAQU. Chardan Capital Markets is the sole bookrunner on the deal.