Globis Capital and Chardan's SPAC Globis Acquisition prices $100 million IPO at $10

Globis Acquisition, a blank check company formed by Globis Capital Advisors and Chardan targeting economic globalization, raised $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.

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 plans to list on the Nasdaq under the symbol GLAQU. Chardan Capital Markets acted as a lead manager on the deal.