The company is a blank-check acquisition vehicle (SPAC) formed to identify and execute a merger or acquisition with one or more operating businesses, then take the combined entity public. Sponsored by Paul Packer, an experienced investor and founder of Globis Capital Advisors, the company raised approximately $102 million in an initial public offering and has up to 24 months to identify and close a business combination with a target that meets specific criteria around market position, management quality, and growth potential. The company generates returns for its public shareholders through the value created by the business combination transaction itself; if no combination is completed within the timeframe, public shareholders are entitled to redeem their shares at their pro rata share of trust account assets.