Globalink Investment announced that the merger agreement with Tomorrow Crypto Group was terminated March 8. As a result, Globalink will seek an alternative business combination.
The press release announcing the termination offered no other details.
The $310 million deal was announced in August.
The SPAC lost nearly 59% of its share value to redemptions in connection with an extension vote earlier this month. Globalink now has until September to close a deal, with the option to add another three months i8f necessary.
Globalink raised $100 million in a December 2021 IPO to pursue targets in North America, Europe, South East Asia, and Asia (excluding China, Hong Kong and Macau) in the technology industry, specifically within the e-commerce and payments sectors. Read more.
