Global Lights Acquisition Corp Announces Closing of $69 Million Initial Public Offering

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Global Lights Acquisition Corp (NASDAQ: GLAC) successfully closed its initial public offering of 6,900,000 units at $10.00 per unit, with the full exercise of the underwriter's over-allotment option. The units, now listed on Nasdaq under the ticker symbol 'GLAC,' consist of one ordinary share and one right entitling the holder to receive one-sixth of one ordinary share upon consummation of an initial business combination. Chardan Capital Markets, LLC acted as the sole book-running manager of the offering, with Robinson & Cole LLP and Loeb & Loeb LLP serving as legal counsels. The registration statement for these securities was declared effective by the SEC on November 13, 2023.

NEW YORK, Nov. 16, 2023 /PRNewswire/ -- Global Lights Acquisition Corp (NASDAQ: GLAC) (the "Company"), a blank check company incorporated in the Cayman Islands, today announced that it closed its initial public offering of 6,900,000 units at a price of $10.00 per unit, which includes the full exercise of the underwriter's over-allotment option. The units are listed on the Nasdaq Global Market ("Nasdaq") and began trading under the ticker symbol "GLAC" on November 14, 2023. Each unit consists of one ordinary share and one right entitling the holder to receive one-sixth (1/6) of one ordinary share upon consummation of an initial business combination. After the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols "GLAC" and "GLACR," respectively.

Chardan Capital Markets, LLC ("Chardan") acted as sole book-running manager of the offering.

Robinson & Cole LLP served as the U.S. counsel to Global Lights Acquisition Corp, and Loeb & Loeb LLP served as United States counsel to the representative of the underwriters in this offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on November 13, 2023. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained by contacting Chardan, 17 State Street, Suite 2130 New York, NY 10004. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov. 

About Global Lights Acquisition Corp

The Company is a blank check company incorporated in the Cayman Islands for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities.

While the Company may pursue an acquisition or a business combination target in any business, industry or geography, the Company intends to focus its search on a target that provides solutions promoting sustainable development and focuses on environmentally sound infrastructure and industrial applications that eliminate or mitigate greenhouse gas emissions, and/or enhance resilience to climate change.

Forward Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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SOURCE Global Lights Acquisition Corp

FAQ

What was the price per unit in Global Lights Acquisition Corp's initial public offering?

The price per unit was $10.00.

What are the symbols under which the ordinary shares and rights are expected to be listed on Nasdaq?

The ordinary shares and rights are expected to be listed under the symbols 'GLAC' and 'GLACR,' respectively.

Who acted as the sole book-running manager of the offering?

Chardan Capital Markets, LLC acted as the sole book-running manager of the offering.

What is the status of the registration statement for these securities?

The registration statement was declared effective by the SEC on November 13, 2023.