Alps Global Holding Berhad and Globalink Investment announced that they have entered into a definitive merger agreement at an enterprise value of approximately $1.6 billion.
Founded in 2017, Alps is a Malaysian developer of personalized medicines. The company has evolved into an integrated platform consisting of biotechnology research, medical and wellness portfolios aiming to deliver personalized, precise and preventive medicine.
In addition to cash in the SPAC’s trust following any redemptions, Globalink expects to support the deal with a PIPE that would close concurrently with the merger.
Pending approvals, the transaction is expected to close in Q2. The combined company will be named Alps Life Science and is expected to list on the Nasdaq.
The transaction includes an earn-out provision permitting Alps shareholders to receive up to 48 million additional shares as and when the business meets certain incremental milestones for the consolidated revenue of Globalink and Alps for five fiscal years following completion of the merger. All Alps shareholders will roll 100% of their equity into the new combined company.
After raising $100 million in a December 2021 IPO, Globalink began pursuing 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.
Hunter Taubman Fischer & Li is serving as legal advisor to Globalink. Darryl, Edward & Co.is legal advisor to Alps Global. Read more.
