[144] Sunrun Inc SEC Filing

Rhea-AI Filing Summary

Globalink Investment Inc. (NASDAQ: GLLIU) filed an 8-K on 3 July 2025 announcing its 25^th deadline extension for completing a de-SPAC transaction. The company deposited $0.15 per public share, or $10,890.15, into its trust account, pushing the business-combination deadline from 9 July 2025 to 9 August 2025.

This is the second of up to six one-month extensions allowed under the SPAC’s amended charter. The cost of each extension is borne by the sponsor and preserves the trust’s cash per share for investors. No target has yet been announced, leaving investors reliant on continued extensions or a potential liquidation if a deal is not secured by the final permitted date.

Key details

• Form type: 8-K, Item 2.03 (Direct Financial Obligation).
• Extension payment: $10,890.15 ($0.15 per share).
• New termination date: 9 Aug 2025.
• Total extensions since IPO (Dec 2021): 25 months.
• Exhibit 99.1: Press release describing the extension.

Investor take-away: The additional month preserves the SPAC option value but underscores management’s prolonged search for a target. Each successive short-term extension increases uncertainty over eventual deal quality and timing.

Positive

• Extension preserves trust value by funding $0.15 per share, allowing investors to retain redemption option while management seeks a merger target.
• Additional month provides flexibility to finalize or negotiate a potential business combination without forcing immediate liquidation.

Negative

• 25th extension highlights prolonged inability to secure a suitable target, increasing deal-completion risk.
• Only four one-month extensions remain under the charter; continued delays compress negotiation window and heighten liquidation probability.

Insights

SPAC Analyst

TL;DR: 25th extension adds one month, tiny cost, signals continued deal delays—neutral-to-negative for investors.

The sponsor contributed $0.15 per share, a standard monthly top-up that keeps trust value intact. While this protects downside, the sheer number of extensions—25 since the 2021 IPO—highlights execution risk. Two of six charter-permitted monthly extensions are now used; if no target emerges by the sixth, liquidation becomes likely. For most SPAC investors, returns hinge on either redemption yield (roughly T-bill rate) or upside from a signed business combination. Today’s filing does not change cash security but offers no new strategic information, therefore impact is modest and slightly negative due to prolonged delay.

Corporate Governance Expert

TL;DR: Repeated short-term extensions may raise governance concerns and fatigue common shareholders.

Frequent one-month extensions can indicate weak pipeline discipline. Although allowed by charter, serial delays often erode market confidence and may invite activist pressure. Management must justify continued time requests with transparent target-search updates. Absent that, voting support for any eventual merger could weaken, complicating approval thresholds.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Charles Schwab & Co., Inc. 3000 Schwab Way Westlake TX 76262	11509	124332.00	228486470	07/07/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/07/2025	RSU Lapse - See Remarks	Sunrun Inc.			11509	07/07/2025	Equity Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
MARY POWELL 600 California Street, Suite 1800 San Francisco CA 94108	Sunrun Inc.	04/07/2025	31197	210396.00
MARY POWELL 600 California Street, Suite 1800 San Francisco CA 94108	Sunrun Inc.	06/02/2025	1885	13369.00
MARY POWELL 600 California Street, Suite 1800 San Francisco CA 94108	Sunrun Inc.	06/06/2025	2981	24526.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

Why did Globalink Investment (GLLIU) file an 8-K on July 3 2025?

To disclose a $0.15 per share deposit that extends its business-combination deadline from 9 July 2025 to 9 Aug 2025.

How much was the extension payment and who paid it?

$10,890.15, equal to $0.15 per public share, funded by the SPAC’s sponsor.

How many extensions does this make since the IPO?

This is the 25th monthly extension since the SPAC’s December 2021 IPO.

How many extensions are still available under the charter?

Four additional one-month extensions remain (six allowed in total; this is the second).

What happens if Globalink fails to close a deal by August 9 2025?

It can seek up to four more monthly extensions; failing that, the SPAC would likely liquidate and redeem shares.

Does the extension dilute current shareholders?

No dilution occurs; the sponsor’s cash keeps trust value intact at a slightly higher per-share amount.