Global Star Acquisition Prices IPO Of 8 Mln Units At $10.00/unit

(RTTNews) - Global Star Acquisition Inc. said that it priced its initial public offering of 8 million units at $10.00 per unit.

The units will be listed on the Nasdaq Global Market and are expected to begin trading September 20, 2022, under the ticker symbol "GLSTU".

Each unit consists of one share of Class A common stock, one redeemable warrant, and one right to receive one-tenth of one share of Class A common stock. Once the securities comprising the units begin separate trading, the shares of Class A common stock, warrants, and rights are expected to be listed on Nasdaq under the symbols "GLST", "GLSTW", and "GLSTR" respectively.

The company is led by Anthony Ang, the company's Chairman and Chief Executive Officer, Nicholas Khoo, the company's Chief Operating Officer, and Shan Cui, the Company's Chief Financial Officer.

The company has granted the underwriter a 45-day option to purchase up to an additional 1.20 million units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on September 22, 2022.