PAUL PACKER - 09 Jun 2022 Form 4 Insider Report for Globis Acquisition Corp. (GLAQU)

Role
CEO, CFO and Secretary, Director, 10%+ Owner
Signature
/s/ Paul Packer
Issuer symbol
GLAQU
Transactions as of
09 Jun 2022
Transactions value $
$0
Form type
4
Filing time
14 Jun 2022, 06:30:50 UTC
Previous filing
05 Jan 2022
Next filing
24 Oct 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLAQU Common Stock Other -2,830,000 -100% 0 09 Jun 2022 See Footnote F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GLAQU Common Stock Purchase Warrant Other -3,628,889 -100% 0 09 Jun 2022 Common Stock 3,628,889 $11.5 See Footnote F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

PAUL PACKER is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On June 9, 2022, the issuer consummated its initial business combination (the "Business Combination") with Forafric Global PLC. ("New Forafric"), a Gibraltar public company limited by shares. As described in Globis Acquisition Corp.'s Current Report on Form 8-K (File No. 333-262126) filed on June 9, 2022 (the "Form 8-K"), in connection with the closing of the Business Combination, each share of Common Stock was exchanged for one ordinary share, nominal value $0.001 per share, of New Forafric (each, an "Ordinary Share").
F2 Represents securities held by Globis SPAC LLC, of which Mr. Packer is the sole manager.
F3 The warrants became exercisable upon the completion of the Business Combination.
F4 As described in the Form 8-K, in connection with the closing of the Business Combination, the private placement warrants were exchanged for warrants to acquire Ordinary Shares at an exercise price of $11.50 per share.