- Business
- Alpha Star Acquisition Corporation functions as a special purpose acquisition entity. The company maintains no substantial independent business operations. Its central aim involves achieving a merger, an exchange of shares, an asset acquisition, a stock transaction, a restructuring, or a comparable business integration with other companies. Historically, it targeted enterprises primarily connected to the Asian market across sectors such as clean energy, internet and high technology, financial technology, healthcare, consumer and retail, energy and resources, manufacturing, and education. Recently, the company executed a definitive agreement for a business combination with OU XDATA GROUP, a financial technology solutions firm based in Estonia. Alpha Star received notification of its impending delisting from Nasdaq, with trading suspended on December 23, 2024, due to its failure to complete an initial business combination within the designated period. The company intends to transition its trading to the OTC market and is actively working to finalize the XDATA merger, having secured shareholder approval for the combination and pursuing extensions for its completion. Founded in 2021, this Cayman Islands exempted company is located in New York, New York.