GLOBAL STAR ACQUISITION INC. THE

Global Star Acquisition Inc. Announces Stockholder Approval of Extension of Deadline to Complete Business Combination

Retrieved on: 
Monday, August 28, 2023
Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., GLST, Business analyst, Constitutional right, Trust, Extension, Article, Accounting, First, Acquisition, Interest on Lawyer Trust Accounts, Special, Finance Secretary (India), Global Star, Nashville Charter Amendment 1, Security (finance)

The Extension provides the Company with additional time to complete the previously announced proposed business combination (the “Transaction”) with K Enter Holdings Inc. (“K Enter”), a Delaware corporation.

Key Points: 
  • The Extension provides the Company with additional time to complete the previously announced proposed business combination (the “Transaction”) with K Enter Holdings Inc. (“K Enter”), a Delaware corporation.
  • Stockholders holding 4,052,066 shares of common stock of Global Star exercised their right to redeem their shares for a pro rata portion of the funds in the Trust Account.
  • As a result, approximately $42,753,728.11 (approximately $10.55 per share) will be removed from the Trust Account to pay such holders.
  • The Company will deposit into the Trust Account $125,000 for the initial extension period (commencing September 22, 2023 and ending October 22, 2023).