Globa Terra Acquisition Corp. (GTERA) is asking shareholders to approve extending its deadline to complete a business combination from October 9, 2026, to July 9, 2027, through an initial one-month extension and up to eight additional one-month periods at the board’s discretion. If approved, the proposal calls for the Sponsor or its affiliates or designees to deposit $0.03 for each public share in issue on the meeting date, approximately $524,987 in total, before redemptions. The Sponsor has indicated it will make the payments if approved but has not entered a binding agreement.
For each additional month, the required trust contribution would be the lesser of $0.04 per non-redeemed public share and $50,000, with up to $400,000 in contributions if all eight periods are elected. Public shareholders may elect to redeem if the extension is approved; the stated estimate was approximately $10.48 per share based on trust funds as of October 22, 2026, before accrued interest is removed to pay taxes. Approval requires at least two-thirds of votes cast.
Globa Terra Acquisition Corp. received Nasdaq notice that it had not completed a business combination within the period in its IPO Registration Statement, and Nasdaq has begun delisting procedures. The company had 15 months from the IPO closing, with up to 21 months through two three-month extensions requiring a $1,749,955 trust deposit for each extension. It did not deposit additional funds to extend its current deadline and is seeking an extension to July 9, 2027.
The company intends to request a hearing by 4:00 p.m. Eastern Time on October 23, 2026. A timely appeal would keep its securities listed while the panel considers the matter; without a timely request, trading is set to be suspended at the opening of business on October 27, 2026, and Nasdaq would file a Form 25-NSE. The determination does not affect the company’s SEC reporting obligations, and the company said there is no assurance of a successful appeal or continued listing.
Globa Terra Acquisition Corp. (GTERA) asks shareholders to approve extending its Business Combination deadline from October 9, 2026 to July 9, 2027. The plan adds one month to November 9, 2026, then permits up to eight further one-month extensions at the board’s sole discretion. An adjournment vote may be presented if extension support is insufficient or the board no longer wishes to proceed.
If approved, Globa Terra Management LLC or its affiliates or designees would deposit into the Trust Account $0.03 for each of 17,499,550 Public Shares in issue as of the meeting, before redemptions—approximately $524,987 total—within two business days. Each later monthly deposit would be the lesser of $0.04 per non-redeemed share and $50,000, up to $400,000 if all eight periods are elected. The Sponsor has indicated it will make the payments if approved, but has not entered a binding agreement.
Public shareholders could redeem at a price including their pro rata portion of the initial payment; redeemed shares would not receive later Contributions. If a Business Combination is not completed within the Combination Period or a required Contribution is missed, GTERA would cease operations except to wind up, redeem Public Shares and, subject to required approvals, liquidate. Approval requires at least two-thirds of votes cast.
Globa Terra Acquisition Corp. is asking shareholders to extend its business-combination deadline from October 9, 2026, to July 9, 2027, on a month-to-month basis for up to nine one-month periods at the Board’s sole discretion. Approval requires at least two-thirds of votes cast; a separate adjournment proposal, if presented, requires a simple majority.
Public shareholders may redeem for a pro rata share of the Trust Account if the extension is approved; those who remain retain redemption rights at a later business-combination vote or if no combination is completed by the extended date. Globa Terra Management LLC, the Sponsor, has indicated it or its affiliates or designees would contribute the lesser of $50,000 and $0.04 for each Public Share not redeemed for each monthly extension, up to nine periods, but has not entered a binding agreement. If more than 1,250,000 Public Shares remain, each contribution is capped at $50,000 and all nine periods could total up to $450,000. The Sponsor, directors and officers collectively own approximately 24.3% of voting shares and plan to vote them in favor.
Globa Terra Acquisition Corporation is a Cayman Islands Special Purpose Acquisition Corporation formed to complete a business combination. For the quarter ended June 30, 2026 it reported net income of $1,353,655, and $2,694,461 for the six-month period, driven entirely by $3,107,657 of interest income on cash held in a trust account, partially offset by $413,196 of formation and operating expenses.
Total assets were $181,872,782, including $181,488,610 held in the trust account and $267,658 of cash outside the trust. A total of 17,499,550 Class A shares are subject to redemption at $10.37 per share. Management states there is substantial doubt about the ability to continue as a going concern because the company must complete a business combination by October 9, 2026 or liquidate.
W. R. Berkley Corporation, together with its subsidiary Berkley Insurance Company, reports beneficial ownership of 1,561,028 Class A ordinary shares of Globa Terra Acquisition Corporation as of June 30, 2026. This represents 8.7% of the outstanding Class A shares.
All 1,561,028 shares are reported with shared voting power and shared dispositive power, with no sole voting or dispositive power. The filing identifies Berkley Insurance Company as the relevant subsidiary in accordance with parent holding company reporting requirements, as referenced in Exhibit 99.1 and signed by an executive vice president of W. R. Berkley Corporation.
Globa Terra Acquisition Corporation, a Cayman Islands-based special purpose acquisition company, reported net income of $1,340,806 for the quarter ended March 31, 2026. This came almost entirely from $1,548,087 of interest on funds invested in its trust account, partially offset by $207,281 of formation and operating expenses.
Total assets were $180,466,114, including $179,929,040 held in the trust account and $371,555 of cash outside the trust. The structure leads to a shareholders’ deficit because 17,499,550 Class A shares are classified as redeemable at about $10.28 per share. The company has not yet completed a business combination and discloses substantial doubt about its ability to continue as a going concern if it cannot close a deal by October 9, 2026 or obtain an extension.
Karpus Management reports beneficial ownership of 1,470,687 shares of Globa Terra Acquisition Corp (Common) representing 6.20% as of 03/31/2026. The shares are held in accounts managed by Karpus, which reports sole voting and sole dispositive power over those 1,470,687 shares.
The filing states Karpus is a New York corporation and a registered investment adviser; it notes informational barriers with parent City of London Investment Group plc and that attribution to the parent is not required.
Mizuho Financial Group, Inc. filed an amended Schedule 13G/A reporting beneficial ownership of 1,497,896 common shares of Globa Terra Acquisition Corporation. That stake represents 8.4% of the class. The filing states the shares are directly held by Mizuho Securities USA LLC, of which related entities may be indirect owners. The filing is signed by Takahiro Katsura on 05/14/2026.
GLOBA TERRA ACQUISITION CORPORATION Schedule 13G: W. R. Berkley Corporation reports beneficial ownership of 1,062,185 Class A ordinary shares, representing 5.9% of the class. The filing shows shared voting and shared dispositive power over those shares; sole voting and dispositive power are zero.