Globis Acquisition Corp. announced that it has issued unsecured convertible promissory note to returning investor Globis SPAC LLC for gross proceeds of $1,000,000 on January 11, 2021. The note bears no interest and is due and payable upon the date on which the company consummates its initial business combination.

At the election of the investor, all or a portion of the unpaid principal amount of the note may be converted upon the consummation of the company's initial business combination into a number of warrants of the company, with each warrant being exercisable for one share of common stock of the company, $0.0001 par value per share, equal to: the portion of the principal amount of the note being converted, divided by $0.75, rounded up to the nearest whole number of warrants. The issuance of the note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933.