8-K
filed February 5, 2025, 6:59 PM ET
CIK 0001922331
regulatory
confidence high
sentiment negative
materiality 0.85
Global Star Acquisition Inc.: Nasdaq/NYSE listing notice — Global Star Acquisition receives Nasdaq delisting notice; trading suspension set for Feb 11 unless appeal filed
Global Star Acquisition Inc.
- Company failed to regain compliance with Nasdaq's minimum publicly held shares rule (1,100,000 shares) by Jan 28, 2025 extension deadline.
- Nasdaq issued delist determination letter on Jan 31, 2025; trading suspension of common stock effective Feb 11, 2025 unless appeal is made.
- Company may request a hearing with Nasdaq Hearings Panel, which could stay delisting during the process.
- No assurance that the Panel will grant an extension or that the company will ultimately regain compliance.
- Previous non-compliance with minimum 400 total holders rule also noted.
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 delisting notice notice regarding other (rules 5450(b)(2)(B)).
- Exchange
- nasdaq
- Notice
- delisting notice
- Rules
- 5450(b)(2)(B)
Exact text from the filing
of Listing. As previously disclosed, on November 25, 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 the Company was not in compliance with Nasdaq’s Listing Rule 5450(b)(2)(B) because the Company had not, as of November 18, 2024, maintained a minimum of 1,100,000 publicly held shares, as required under the Nasdaq continued listing standards for The Nasdaq Global Market. Under Nasdaq Listing Rules, the Company had 45 calendar days or until January 9, 2025, to
View on SEC.gov
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
Global Star Acquisition Inc. received a nasdaq deficiency notice notice regarding other (rules 5450(b)(2)(B)).
- Exchange
- nasdaq
- Notice
- deficiency notice
- Rules
- 5450(b)(2)(B)
Exact text from the filing
November 25, 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 the Company was not i
View on SEC.gov
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
Global Star Acquisition Inc. received a nasdaq delisting notice notice regarding shareholders (rules 5450(a)(2)).
- Exchange
- nasdaq
- Notice
- delisting notice
- Deficiency
- shareholders
- Rules
- 5450(a)(2)
Exact text from the filing
024, we received a notice from the Staff notifying us that the Company is not in compliance with Listing Rule 5450(a)(2) (the “Minimum Public Holders Rule”), which requires the Company to have at least 400 total holders
View on SEC.gov
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
Global Star Acquisition Inc. received a nasdaq delisting notice notice regarding shareholders (rules 5450(a)(2)).
- Exchange
- nasdaq
- Notice
- delisting notice
- Deficiency
- shareholders
- Rules
- 5450(a)(2)
Exact text from the filing
lobal Market. Under Nasdaq Listing Rules, the Company had 45 calendar days or until January 9, 2025, to submit a plan to regain compliance with Rule 5450(b)(2)(B). Separately, on August 1, 2024, we received a notice from the Staff notifying us that the Company is not in compliance with Listing Rule 5450(a)(2) (the “Minimum Public Holders Rule”), which requires the Company to have at least 400 total holders for continued listing on The Nasdaq Global Market. We submitted the plan to regain compliance in a timely manner, and Nasdaq advised the Company that it had determined to grant the Company a
View on SEC.gov
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