Metal Sky Star Acquisition Corporation (Nasdaq: MSSA) Announces Extension and Continued Progress
Metal Sky Star Acquisition (MSSA) has announced an extension to its SPAC business combination timeline. The company, which aims to facilitate a public listing in the telecom industry, has received shareholder approval for a nine-month extension to complete the transaction.
The de-SPAC process has faced complexities due to extensive regulatory requirements and government approvals. While MSSA's shares will temporarily move to the OTC market, the company expects to re-list on NASDAQ post-transaction completion, subject to meeting initial listing standards.
Metal Sky Star Acquisition (MSSA) ha annunciato un'estensione della sua timeline per la combinazione aziendale SPAC. L'azienda, che mira a facilitare una quotazione pubblica nel settore delle telecomunicazioni, ha ricevuto l'approvazione degli azionisti per un'estensione di nove mesi per completare la transazione.
Il processo di de-SPAC ha affrontato complessità a causa di ampie normative e approvazioni governative. Anche se le azioni di MSSA si sposteranno temporaneamente sul mercato OTC, l'azienda si aspetta di riquotarsi su NASDAQ dopo il completamento della transazione, a condizione di soddisfare gli standard di quotazione iniziali.
Metal Sky Star Acquisition (MSSA) ha anunciado una extensión en su cronograma para la combinación empresarial SPAC. La compañía, que busca facilitar una cotización pública en la industria de telecomunicaciones, ha recibido la aprobación de los accionistas para una extensión de nueve meses para completar la transacción.
El proceso de de-SPAC ha enfrentado complejidades debido a amplios requisitos regulatorios y aprobaciones gubernamentales. Aunque las acciones de MSSA se moverán temporalmente al mercado OTC, la compañía espera volver a cotizar en NASDAQ tras la finalización de la transacción, sujeto a cumplir con los estándares de cotización iniciales.
메탈 스카이 스타 인수(MSSA)가 SPAC 사업 결합 일정 연장을 발표했습니다. 이 회사는 통신 산업에서의 공개 상장을 촉진하는 것을 목표로 하며, 거래 완료를 위한 9개월 연장에 대한 주주 승인을 받았습니다.
de-SPAC 프로세스는 광범위한 규제 요건과 정부 승인으로 인해 복잡함에 직면했습니다. MSSA의 주식은 일시적으로 OTC 시장으로 이동하지만, 회사는 거래 완료 후 NASDAQ에 재상장될 것으로 예상하고 있으며, 초기 상장 기준을 충족하는 것을 조건으로 합니다.
Metal Sky Star Acquisition (MSSA) a annoncé une prolongation de son calendrier de combinaison d'affaires SPAC. L'entreprise, qui vise à faciliter une cotation publique dans le secteur des télécommunications, a reçu l'approbation des actionnaires pour une prolongation de neuf mois afin de finaliser la transaction.
Le processus de de-SPAC a rencontré des complexités en raison d'exigences réglementaires étendues et d'approbations gouvernementales. Bien que les actions de MSSA se déplacent temporairement vers le marché OTC, l'entreprise s'attend à se re-coter sur NASDAQ après l'achèvement de la transaction, sous réserve de respecter les normes de cotation initiales.
Metal Sky Star Acquisition (MSSA) hat eine Verlängerung seines Zeitplans für die SPAC-Geschäftskombination angekündigt. Das Unternehmen, das eine öffentliche Notierung in der Telekommunikationsbranche anstrebt, hat die Genehmigung der Aktionäre für eine neunmonatige Verlängerung erhalten, um die Transaktion abzuschließen.
Der de-SPAC-Prozess hat aufgrund umfangreicher regulatorischer Anforderungen und Regierungszulassungen Komplexitäten erfahren. Während die Aktien von MSSA vorübergehend auf den OTC-Markt wechseln, erwartet das Unternehmen, nach Abschluss der Transaktion an der NASDAQ wieder notiert zu werden, vorausgesetzt, die anfänglichen Notierungsstandards werden erfüllt.
- Shareholder approval secured for nine-month extension
- Potential NASDAQ re-listing post-transaction completion
- Temporary delisting from NASDAQ to OTC markets
- Delayed business combination completion requiring timeline extension
- Complex regulatory approval process causing transaction delays
New York, NY, April 08, 2025 (GLOBE NEWSWIRE) -- Metal Sky Star Acquisition Corporation (Nasdaq: MSSA), originally listed on NASDAQ as a Special Purpose Acquisition Company (SPAC), is dedicated to facilitating the public listing of its target company through a strategic business combination.
The transaction, which spans the telecom industry and involves extensive regulatory requirements and government approvals, has encountered complexities typical of de-SPAC processes. Recognizing these challenges, the company is diligently working to secure all necessary clearances.
In support of these efforts, shareholders have approved an additional nine-month extension to complete the transaction. This extended timeline will allow Metal Sky Star to finalize the necessary regulatory approvals and strategic steps.
Furthermore, discussions with NASDAQ have confirmed that while trading in Metal Sky Star’s shares will transition to the OTC market, once the final government approval is obtained and the transaction is completed, the surviving entity is expected to re-list on NASDAQ provided it satisfies the relevant initial listing standards.
Metal Sky Star remains committed to transparency and will continue to provide updates as it moves toward completing this transformative transaction.
About Metal Sky Star Acquisition Corporation
Metal Sky Star Acquisition Corporation is a blank check company formed under the laws of the Cayman Islands for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements”. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and final prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contacts:
Wenxi He
Chairman and Chief Executive Officer
221 River Street, 9th Floor, Hoboken, New Jersey 07030
201-721-8789
Email: olivia@metalskystar.com
FAQ
Why is Metal Sky Star Acquisition (MSSA) extending its SPAC timeline?
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Will MSSA return to NASDAQ after completing the business combination?
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