ALSAF Research | Milton Maxwell

ALSAF

Alpha Star Acquisition Corporat

17.50

+0.00+0%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

56.48M

P/E (TTM)

Basic EPS (TTM)

-0.56

Dividend Yield

Recent Filings

10-K

FY2025 results

3/20/26Mar 20, 2026

Alpha Star ended FY2025 with no revenue and a $847K net loss on $888K operating costs, while trust assets dwindled to $718K after heavy redemptions. Q4 saw minimal redemptions of 702 shares versus prior quarters' heavier outflows, with the December extension vote securing runway to December 2026 at $35K monthly deposits. Sponsor waived $7M in debt, boosting APIC, while deferred underwriting commissions dropped to $950K. No business combination closed despite May approval for XDATA merger. Delisting risk looms if unclosed. Liquidation deadline pressures cash burn.

8-K

Sponsor loans $500K interest-free

3/19/26Mar 19, 2026

Alpha Star Acquisition Corporation secured a US$500,000 interest-free loan from sponsor A-Star Management Corp. on March 16, 2026, to fund transaction costs and an extension fee. Repayment is due upon initial business combination close, with prepayment allowed anytime. Keeps the SPAC alive longer.

8-K

SPAC deadline extended

12/12/25Dec 12, 2025

Alpha Star shareholders unanimously approved amendments on December 11, 2025, extending the business combination deadline to December 15, 2026, and authorizing up to 12 monthly trust extensions with $35,000 deposits each. All 3,205,605 shares voted for. Deadline bought.

10-Q

Q3 FY2025 results

11/14/25Nov 14, 2025

Alpha Star's Q3 losses narrowed to $179,556 from $459,346 y/y, thanks to lower formation costs, while trust interest dipped to $5,983 from $320,078. Nine-month net loss hit $511,835 versus $1.3M profit y/y, reflecting smaller trust balances post-redemptions. Trust holds $666,445; sponsor notes stand at $1.3M with $493K accrued expenses. Business combination with OU XDATA GROUP advances despite Nasdaq delisting to OTC. Sponsor waived $7M debt last year. Controls falter. Merger deadline looms December 15.

8-K

Underwriting fee slashed for merger

10/22/25Oct 22, 2025

Alpha Star Acquisition Corporation amended its underwriting agreement with Ladenburg Thalmann on October 13, 2025, slashing the deferred underwriting commission from $2,875,500 to $950,000 ahead of its business combination with OU XDATA GROUP. This cut, driven by high shareholder redemptions and a shrunken trust account, eases closing costs, with payment due at closing from Alpha Star or OU XDATA GROUP if needed. Deal closes soon. Yet, full indemnification rights persist unchanged.

About

Alpha Star Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on businesses in clean energy, internet and high technology, financial technology, health care, consumer and retail, energy and resources, manufacturing, and education sectors in Asia. Alpha Star Acquisition Corporation was incorporated in 2021 and is based in New York, New York. Alpha Star Acquisition Corporation is a subsidiary of A-Star Management Corp.

CEO

Dr. Zhe Zhang

IPO

1/20/2022

Sector

Financial Services

Industry

Shell Companies