Global Star Acquisition registered to offer 8 million units, each consisting of one share, a warrant and one right.
Each whole warrant is redeemable for $11.50 per share. According to the S-1 filing, a shareholder must hold four units to receive warrants to purchase three shares. Each right is good for one-tenth of a share.
Global Star is targeting the fintech and proptech sectors, with particular focus on the Nordic and Asia Pacific regions.
CEO and Chairman Anthony Ang started his career at the Singapore Economic Development Board in 1980, and his last position was regional director for North America (based in the United States for six years) responsible for the promotion of investments from North America.
Global Star is the 6th SPAC this month to register an IPO.
EF Hutton is sole book-running manager.
The SPAC has applied for a Nasdaq listing under the symbol GLSTU. Read more.
