Alpha Star Acquisition Corp. ( (ALSA) ) has provided an announcement.
Alpha Star Acquisition Corporation, a Cayman Islands exempted company, has entered into a Business Combination Agreement with Estonian company XDATA and its sole shareholder. The agreement will see Alpha Star merge with a newly incorporated company (PubCo), with XDATA becoming a wholly-owned subsidiary of PubCo, which will be publicly traded post-transaction. Shareholders will convert their Alpha Star shares and warrants into PubCo shares and warrants, with the business combination expected to close by the end of 2024, subject to shareholder and regulatory approvals. The transaction aims to leverage XDATA’s financial technology solutions in the public market.
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