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Global Star Acquisition Inc. 8-K Filing: Key Financial Insights & Stock Information

$GLST
Form 8-K
Filed on: 2025-02-24
Source
Global Star Acquisition Inc. 8-K Filing: Key Financial Insights & Stock Information

Based on the provided section of the financial report, here are the key pieces of information extracted:

  1. Entity Information:
  • Company Name: Global Star Acquisition Inc.
  • CIK Number: 0001922331
  • SEC File Number: 001-41506
  • EIN: 86-2508938
  • Address: 1641 International Drive Unit 208, McLean, VA 22102
  • Phone: 703-790-0717
  1. Filing Type:
  • Form: 8-K
  • Filing Date: February 19, 2025
  1. Stock Information:
  • Class A Common Stock:
    • Par Value: $0.0001 per share
    • Ticker Symbol: GLSTU (for Units)
  • Redeemable Warrants:
    • Ticker Symbol: GLST
    • Each warrant is exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share.
  • Rights:
    • Ticker Symbol: GLSTW
    • Each right is exchangeable into one-tenth of one share of Class A Common Stock.
  • Units:
    • Each unit consists of one share of Class A Common Stock, one Redeemable Warrant, and one Right.
  1. Period of Report:
  • The reporting period is for a single date: February 19, 2025.
  1. Units of Measurement:
  • Financial figures are presented in USD and shares, indicating a potential financial transaction or valuation involving these units.

Insights:

  • The company appears to be involved in a financial mechanism that combines equity (Class A Common Stock), warrants (which provide the right to buy shares at a fixed price), and rights (which convert into a fraction of shares). This structure is typical for SPACs (Special Purpose Acquisition Companies) that are raising capital for mergers or acquisitions.
  • The exercise price of the redeemable warrants at $11.50 per share indicates a valuation strategy that may be attractive to investors, especially if the market price exceeds this threshold.
  • The filing under Form 8-K suggests that this document is being used to report significant events or changes, which could indicate a notable development for investors and stakeholders.

Overall, this section reflects a structured offering involving equity and financial instruments, likely aimed at attracting investment while providing certain rights and options to investors.