Alpha Star Acquisition Corporation Announces Pricing of $100 Million Initial Public Offering
13 Dicembre 2021 - 5:19PM
Alpha Star Acquisition Corporation, a Cayman Island exempt company
(NASDAQ: ALSAU) announced today that it has priced its initial
public offering of 10,000,000 units at $10.00 per unit.
The Company's units are expected to be listed on
NASDAQ Stock Market LLC Global Market (“NASDAQ”) and trade under
the ticker symbol “ALSAU” beginning Monday, December 13, 2021. Each
unit consists of one ordinary share par value $0.0001 per share,
one right to receive one seventh (1/7) of an ordinary share and one
redeemable warrant to acquire one-half an ordinary share at an
exercise price of $11.50 for each whole share. The underlying
securities of the units are not trading separately at this time.
Once the securities comprising the units begin separate trading,
the shares, rights, and warrants are expected to be listed on
NASDAQ under the symbols “ALSA”, “ALSAR” and “ALSAW",
respectively.
Ladenburg Thalmann & Co. Inc. is acting as the
sole bookrunner and the representative of the underwriters in the
offering. Brookline Capital Markets, a division of Arcadia
Securities, LLC is acting as co-manager of the offering. The
underwriters have been granted a 45-day option to purchase up to an
additional 1,500,000 units offered by the Company to cover
over-allotments, if any.
The offering is expected to close on Wednesday,
December 15, 2021 subject to customary closing conditions.
The Company’s sponsor, A-Star Management
Corporation, a British Virgin Islands company, and/or its
designees, has committed and agreed to purchase an aggregate of
300,000 units (or 330,000 units if the over-allotment option is
exercised in full) at a price of $10.00 per unit for an aggregate
purchase price of $3,000,000 (or $3,300,000 if the over-allotment
option is exercised in full), in a private placement that will
close simultaneously with the closing of this offering (“private
placement units”). Each private placement unit shall consist of one
ordinary share, one right to receive one-seventh (1/7) of an
ordinary share upon the consummation of an initial business
combination and one private placement warrant exercisable to
purchase one-half of one ordinary share at a price of $11.50 per
whole share. Closing of the private placement will occur
simultaneously with closing of the initial public offering.
About Alpha Star Acquisition
Corporation
Alpha Star Acquisition Corporation a newly
organized blank check company formed under the laws of the Cayman
Islands for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses.
A registration statement on Form S-1 relating to
these securities (Sec File Number 333-257521) was declared
effective by the Securities and Exchange Commission on December 13,
2021. The offering is being made only by means of a prospectus,
copies of which may be obtained by contacting Ladenburg Thalmann
& Co., Inc. located 640 5th Ave., 4th Floor, New York, NY 10019
or at prospectus@ladenburg.com. Copies of the registration
statement can be accessed through the SEC's website at
www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including the successful consummation
of the Company's initial public offering, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Company Contacts:
Mr. Zhe Zhang Chief Executive Officer Alpha Star
Acquisition Corporation 80 Broad Street, 5th Floor New York, New
York 10004 Tel.: (212) 837-7977 Email: zhe.zhang@swgt.co.uk
Source: Alpha Star Acquisition Corporation
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