Alpha Star Acquisition Corporation Ordinary Shares - ALSA STOCK NEWS

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Alpha Star Acquisition Corporation (Nasdaq: ALSA) is a blank check company, also known as a special purpose acquisition company (SPAC). Formed under the laws of the Cayman Islands, Alpha Star's primary mission is to engage in a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

Recently, Alpha Star announced that it received a notice from The Nasdaq Stock Market LLC regarding its non-compliance with Nasdaq Listing Rule 5250(c)(1). This rule mandates timely filing of periodic financial reports with the Securities and Exchange Commission (SEC). The company has yet to file its Form 10-K for the period ending December 31, 2023, and its Form 10-Q for the period ending March 31, 2024. This notification does not currently affect the listing of Alpha Star's shares on Nasdaq. However, the company has a 60-day window to submit a plan to regain compliance. If the plan is accepted by Nasdaq, Alpha Star may get up to 180 days from the initial due date to comply. If not, the company will have the opportunity to appeal to a Nasdaq Hearings Panel.

Alpha Star has assured its stakeholders that it is working diligently to file the necessary forms within the 60-day period, thereby avoiding the need for a formal compliance plan. This proactive approach aims to maintain its Nasdaq listing and investor confidence.

Alpha Star's strategic approach involves identifying and partnering with businesses that have strong growth potential and can benefit from being publicly traded. The company's leadership, under the guidance of Zhe Zhang, Chairman and CEO, brings extensive expertise in mergers and acquisitions, ensuring that potential targets are thoroughly evaluated for financial and operational viability.

Forward-looking statements in their press releases indicate Alpha Star's commitment to transparent communication with its investors. These statements highlight the company's endeavors to meet regulatory requirements and successfully execute its business strategy, despite market conditions and other external factors.

For further inquiries, Zhe Zhang can be contacted at 80 Broad Street, 5th Floor, or through email at zhangzhe@siftcap.cn.