Alpha Star Acquisition Corp wants to remove its $35,000 monthly trust-account extension payment and move the business-combination deadline to December 15, 2027. The proposals matter because the company says failure to approve them could prevent completion of the transaction and force liquidation, with trust funds distributed pro rata to public shareholders.

Key Highlights

  • Alpha Star’s extraordinary Shareholder meeting will take place on October 13, 2026, in person and virtually.
  • The board recommends voting FOR the Trust Amendment, Charter Amendment and Adjournment proposals.
  • The proposed charter change is linked to a Business combination agreement involving XDATA and Roman Eloshvili.

Shareholders are being asked to eliminate a $35,000 monthly trust-account extension payment and extend the deadline for completing a business combination to December 15, 2027. The extraordinary meeting is scheduled for October 13, 2026.

Trust Changes Would Extend Combination Deadline

The Trust Amendment would give Alpha Star discretion to remove the monthly payment due in October 2026 and continue the period for commencing trust Liquidation through December 15, 2027 without adding funds. The Charter Amendment would make the same payment change and replace existing Section 36.2 with a new provision. Under the existing arrangement, further one-month extensions from October 15, 2026 to December 15, 2026 require the sponsor or its designee to place the monthly fee into the Trust Account. The proposed charter change is intended to allow time to complete closing conditions and consummate the previously announced business combination agreement entered into with XDATA and Roman Eloshvili on September 12, 2024.

Failed Approval Could Lead to Liquidation

In that event, funds in the Trust Account would be distributed pro rata to public shareholders, after deducting up to $100,000 of net interest for dissolution expenses. Operations would then cease except for winding up the company’s affairs. Investors may have to wait beyond December 15, 2026 for Redemption proceeds to become available. The board recommends approval of the proposals but expresses no opinion on whether holders should redeem their Public Shares.