Global Star Acquisition Inc.: Nasdaq/NYSE listing notice — Global Star Acquisition receives Nasdaq deficiency notice for MVPHS below $15M

Global Star Acquisition Inc.

Nasdaq notified on Dec 18, 2024 that MVPHS below $15M for last 30 consecutive business days.
Company has until June 17, 2025 (180 days) to regain compliance; needs 10 consecutive days at $15M+.
No immediate impact on listing or trading of common stock (GLST) or other securities.
Company says it will monitor and consider available options; may appeal any delisting determination.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Global Star Acquisition Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C)

Exact text from the filing

December 18, 2024, Global Star Acquisition Inc. (the “Company”) received a letter from the listing qualifications department staff (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) indicating that based upon Nasdaq’s review of the Company’s Market Value of Publicly Held Shares (“MVPHS”) for the last 30 consecutive business days prior to the date of the letter, the Company no longer meets the requirements of Nasdaq Listing Rule 5450(b)(2)(C), which requires listed securities to maintain a minimum MVPHS of $15,000,000 (the “MVPHS Requirement”). The Company intends to monitor the market value o

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Source: SEC EDGAR

accession 0001829126-24-008580

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