Global Lights Acquisition Extends Liquidation Date with Deposit into Trust Account

Global Lights Acquisition Corp (NASDAQ: GLACU) recently announced an extension of its liquidation date to February 16, 2025, following a deposit into the Trust Account. The company disclosed that Carbon Neutral Holdings Inc., the Sponsor, has deposited $350,000 into the Trust Account on December 27, 2024.

This deposit, termed as the “Contribution,” was made in alignment with the Extension Fee Reduction Proposal. It allows for an additional three-month extension beyond the original deadline. Consequently, Global Lights Acquisition Corp’s liquidation date has been extended.

As a result of this transaction, the Company issued a promissory note to the Sponsor on December 31, 2024, carrying a principal amount of $350,000. The note, which is interest-free, becomes repayable in full upon the completion of the Business Combination.

The Trust Account, as of January 2, 2025, stands at US$54,340,693.04, signaling a sound financial position for the Company moving forward.

The specifics of the promissory note are accompanied by an exhibit as part of the disclosure pertaining to this financial arrangement. The complete details of the note are available for reference in Exhibit 10.1 attached to the report, which is incorporated by reference.

This filing signifies a strategic move by Global Lights Acquisition Corp to manage its financial obligations effectively and ensure a strong financial footing as it progresses towards future business combinations and operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Global Lights Acquisition’s 8K filing here.

About Global Lights Acquisition

Global Lights Acquisition Corp intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Beijing, the People's Republic of China.