Deal funds development and expansion of company’s plantation in China
By Devika Patel
Knoxville, Tenn., May 13 – Globalink Ltd. priced a $5 million public offering of stock, according to a Form S-1 filed Friday with the Securities and Exchange Commission.
The company will sell 20 million common shares at $0.25 per share on self-underwritten, best-efforts basis. The price is a 525% premium to the May 12 closing share price of $0.04.
Proceeds will be used for developing and expanding the company’s plantation in China, marketing and general working capital.
The Vancouver, B.C., company has developed an online hotel booking program for connecting users with available hotel rooms.
| Issuer: | Globalink Ltd.
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| Issue: | Common stock
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| Amount: | $5 million
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| Shares: | 20 million
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| Price: | $0.25
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| Warrants: | No
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| Pricing date: | May 13
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| Stock symbol: | OTCBB: GOBK
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| Stock price: | $0.04 at close May 12
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| Market capitalization: | $1.6 million
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