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InvestorNewsBreaks – Global Star Acquisition Inc. (NASDAQ: GLSTU) Announces Closing of Full Over-Allotment Option in IPO

Global Star Acquisition (NASDAQ: GLSTU) announced that it has issued an additional 1,200,000 units consisting of one share of Class A common stock, one redeemable warrant, and one right to receive one-tenth (1/10) of one share of Class A common stock, at the public offering price of $10.00 per share, for total gross proceeds of approximately $12 million, per the exercise in full of the underwriters’ over-allotment option in connection with the company’s previously announced public offering. Upon effect of the full exercise of the over-allotment option, Global Star Acquisition secured gross proceeds of approximately $92 million with a total number of 9,200,000 units issued by the company. EF Hutton (NASDAQ: EFHTU), division of Benchmark Investments LLC, served as sole book-running manager for the offering.

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About Global Star Acquisition Inc.

The company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. It has not selected any specific business combination target and has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. While the company may pursue an initial business combination target in any business or industry, it intends to focus its search on financial technology (“fintech”) and property technology (“proptech”) businesses that offer technology solutions, software, services or products to the financial services or real estate industries. The company intends to initially prioritize the Nordic region and Asia Pacific, especially Southeast Asia as its geographical focus. The company is led by its Chairman and Chief Executive Officer Anthony Ang, Chief Operating Officer Nicholas Khoo and Chief Financial Officer Shan Cui.

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