Globis Acquisition Corp. announced that it has entered into a warrants subscription agreement to issue 4,055,556 warrants at $0.75 per warrants for the gross proceeds of $3,041,667 and 95,833 placement units at an issue price of $10 per unit for gross proceeds of $958,330 for aggregate proceeds of $3,999,997 on November 10, 2020. The transaction will include participation from Globis SPAC LLC for 3,555,556 private warrants (or 3,688,889 warrants if the over-allotment option is exercised) and 500,000 private warrants will be purchased by Up and Up Capital, LLC at a purchase price of $0.75 per warrant, or $3,041,667 (or $3,141,667 if the over-allotment option is exercised in full) and for 95,833 units in the aggregate. The underwriters have an option of over-allotment to subscribe to up to 4,188,889 warrants for the proceeds of $3,141,666.75. The warrants to be issued are non-redeemable and have an exercise price of $11.50 and will expire five years after the completion of initial business combination or earlier upon redemption or liquidation. Each placement unit consist of one shares and one warrant. The warrants will be subject to transfer restrictions for one year.