Global Star Acquisition, Inc. Right
GLSTR
NASDAQ Global Market0.22
USD
+0.14
- -
CIK
0001922331
Return %
Stock
S&P500
1Y
43.56
18.44
3Y
24.97
63.65
5Y
115.20
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Chin Hwee Tan
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1641 International Drive McLean VA United States of America 22102
- CIK
- 0001922331
- Website
- globalstarspac.com
- Similar Companies
- Business
- Global Star Acquisition, Inc. Right (GLSTR) represents the publicly traded rights of Global Star Acquisition, Inc., a blank check company, or special purpose acquisition company (SPAC), formed in 2022 and headquartered in New York, which focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting high-growth disruptive companies in fintech and proptech sectors across Asia Pacific and Nordic regions; its securities, including Class A common stock (GLST), warrants (GLSTW), and rights (GLSTR), were listed on Nasdaq following its initial public offering in September 2022 that raised approximately $92 million. The company offers no operational products or services as a SPAC, instead providing investment opportunities through its trust account holding IPO proceeds for deployment in a de-SPAC transaction; units (GLSTU) separated into component securities for independent trading. Global Star operates principally in the United States with a focus on international targets and maintains a management team led by CEO Anthony Ang with over 50 years of combined experience in operations, investments, and advisory roles. In recent major developments, Global Star entered a definitive merger agreement on June 15, 2023, with K Enter Holdings Inc., a holding company pursuing controlling stakes in six Korean entertainment firms including Solaire Partners Ltd. (IP content investment), Play Company Co., Ltd. (IP merchandising), Studio Anseilen Co., Ltd. (K-drama production), and The LAMP Pictures Co., Ltd., Bidangil Pictures Co., Ltd., and Apeitda Co., Ltd. (K-movie production), valuing the deal initially at $610 million (later amended to $590 million); the SEC approved the Form F-4 registration in late 2024, shareholders approved key proposals including reincorporation to Cayman Islands as K Wave Media Ltd. (KWM) on February 3, 2025, and the business combination finalized via reverse merger on May 13, 2025, with KWM shares commencing Nasdaq trading under KWM on May 14, 2025. Amid merger pursuit, Global Star faced Nasdaq noncompliance, leading to trading suspension and delisting on March 14, 2025, and transition to OTC Markets; it secured a $4.5 million PIPE financing in February 2025 and multiple trust extensions up to June 2025 to facilitate the transaction. Post-merger, GLSTR rights relate to the legacy SPAC structure now integrated into K Wave Media Ltd., a diversified Korean entertainment platform engaged in K-content production, IP creation, merchandising, and investment.