Alpha Star Acquisition Corporation operates as a special purpose acquisition entity, primarily structured to facilitate a business combination. Initially formed to seek opportunities across various sectors, including financial technology, high technology, and clean energy, with an original focus on the Asian market, the company has since announced a definitive merger agreement. It is currently progressing with a proposed business combination with OU XDATA GROUP, an Estonia-based firm specializing in financial technology solutions. This transaction received shareholder approval in May 2025. While the company's securities were delisted from Nasdaq in December 2024 due to not completing an initial business combination within the specified timeframe, Alpha Star Acquisition continues to pursue its merger with XDATA GROUP on the OTC market. Incorporated in 2021, the entity is established under the laws of the Cayman Islands. The deferred underwriting commission related to its merger was recently adjusted in October 2025.