Item 8.01. Other Events
On July 1, 2021, Gobi Acquisition Corp. (the "Company") consummated an initial
public offering (the "IPO") of 25,000,000 Class A ordinary shares (the
"Shares"), and a private placement with PAG Investment, LLC of 300,000 Class A
ordinary shares (the "Private Placement"). The net proceeds from the IPO,
together with certain of the proceeds from the Private Placement, $250,000,000
in the aggregate (the "Offering Proceeds"), were placed in a trust account
established for the benefit of the Company's public shareholders and the
underwriters of the IPO with Continental Stock Transfer & Trust Company acting
as trustee. Except with respect to interest earned on the Offering Proceeds held
in the trust account that may be released to the Company to pay its income
taxes, if any, the Company's amended and restated memorandum and articles of
association provide that the Offering Proceeds will not be released from the
trust account (1) to the Company, until the completion of its initial business
combination, or (2) to its public shareholders, until the earliest of (a) the
completion of the its initial business combination, and then only in connection
with those Class A ordinary shares that such shareholders properly elected to
redeem, subject to certain limitations, (b) the redemption of any public shares
properly tendered in connection with a shareholder vote to amend the Company's
amended and restated memorandum and articles of association (A) to modify the
substance or timing of the Company's obligation to provide holders of its
Class A ordinary shares the right to have their shares redeemed in connection
with the Company's initial business combination or to redeem 100% of its public
shares if the Company does not complete its initial business combination within
24 months from the closing of the IPO or (B) with respect to any other provision
relating to the rights of holders of its Class A ordinary shares, and (c) the
redemption of the public shares if the Company has not consummated its business
combination within 24 months from the closing of the IPO, subject to applicable
law.
An audited balance sheet as of July 1, 2021 reflecting receipt of the Offering
Proceeds has been issued by the Company and is included as Exhibit 99.1 to this
Current Report on Form 8-K.
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