McDermott Represents Globis Acquisition Corp. in $300 Million De-SPAC Transaction with Forafric Agro Holdings Limited
International law firm McDermott Will & Emery represented Globis Acquisition Corp. (Nasdaq: GLAQ), a special purpose acquisition company (SPAC), in connection with its de-SPAC transaction with Forafric Agro Holdings Limited, a leading African agribusiness and milling industry leader with a complete range of flour and semolina, and secondary processing products such as pasta and couscous. The purchase price for the transaction is approximately $300 million.
The transaction was announced on December 20, 2021 and is expected to close in early 2022, subject to customary approvals and satisfaction of conditions.
Upon the closing of the transaction, the parties intend that Globis will change its jurisdiction of incorporation to Gibraltar, be renamed Forafric Global PLC, and become the first Moroccan based company to list on a US Exchange.
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