Global Star Acquisition Inc.: Nasdaq/NYSE listing notice — Global Star Acquisition fails Nasdaq MVLS compliance; faces delisting hearing March 11

Global Star Acquisition Inc.

Received notice on Feb 19, 2025 that MVLS did not reach $50M minimum by Feb 17 compliance date.
Non-compliance also noted under Equity Standard and Total Assets/Total Revenue standards.
Will present views to Nasdaq Hearings Panel at a hearing scheduled for March 11, 2025.
Company previously disclosed MVLS deficiency on Aug 19, 2024.
No assurance that it will be able to regain compliance with Nasdaq rules.

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 market value (rules 5450(b)(2)(A), 5810(c)(3)(C), 5450(b)(1), 5450(b)(3), 5450(b)(2)(B), 5450(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5810(c)(3)(C), 5450(b)(1), 5450(b)(3), 5450(b)(2)(B), 5450(a)(2)

Exact text from the filing

February 19, 2025, the Company received a notice from the Staff that the Company did not comply with the MVLS Requirement by the Compliance Date, and that the matter will serve as an additional basis for delisting the Company’s securities from Nasdaq. The Company was also notified that it does not meet the continued listing requirements under Listing Rule 5450(b)(1) (the “Equity Standard”) or Listing Rule 5450(b)(3) (the “Total Assets/Total Revenue Standard”) requirements. Pursuant to Listing Rule 5810(d), the Company will present its views to the Hearings Panel (the “Panel”) at a hearing sche

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Source: SEC EDGAR

accession 0001829126-25-001189

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