Metal Sky Star Acquisition Corporation Announces to Extend Deadline to Consummate Business Combination

Rhea-AI Summary

Metal Sky Star Acquisition Corporation (NASDAQ: MSSA) has extended its deadline to finalize a business combination by depositing $383,333 into its trust account, equating to $0.033 per public share. This extension allows the company additional time to secure a merger or acquisition, pushing the deadline to February 5, 2023. As a blank check company, Metal Sky aims to engage in significant business combinations. Potential investors should note the inherent risks associated with forward-looking statements as indicated in the company's filings with the SEC.

Positive

• Extension of business combination deadline provides additional time for strategic planning.
• Deposit of $383,333 into the trust account demonstrates commitment to shareholder value.

Negative

• Pressure to finalize a business combination within an extended time frame could indicate challenges in identifying suitable targets.
• Continued delay may raise concerns about the company's operational efficacy and strategic direction.

NEW YORK, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Metal Sky Star Acquisition Corporation (the “Company” or “Metal Sky”) (NASDAQ: MSSA) today announced that the Company has deposited into the Company's trust account (the "Trust Account") an aggregate of $383,333, representing $0.033 per public share of the Company, in order to extend the period of time the Company has to consummate a business combination by one month to February 5, 2023.

About Metal Sky Star Acquisition Corporation

The Company is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share 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 prospectus for the offering filed with the Securities and Exchange Commission (“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.

Contact

Metal Sky Star Acquisition Corporation
Man Chak Leung
Chief Executive Officer
Adrian@metalskystar.com

 

FAQ

What is the purpose of the $383,333 deposit by Metal Sky Star Acquisition Corporation?

The deposit is intended to extend the time for the company to finalize a business combination by one month.

When is the new deadline for Metal Sky Star Acquisition Corporation to complete its business combination?

The new deadline is February 5, 2023.

What does Metal Sky Star Acquisition Corporation aim to achieve?

The company aims to effect a merger, asset acquisition, or similar business combination with one or more businesses.

What risks are associated with Metal Sky Star Acquisition Corporation's forward-looking statements?

The risks are outlined in the company's registration statement and prospectus filed with the SEC and include numerous conditions beyond the company's control.