Alpha Star Acquisition Corporation Signs Letter of Intent for Business Combination
Under the terms of the letter of intent, the company and Cyclebit would become a combined entity, with existing Cyclebit shareholders transferring 100% of their equity into the combined public company. The Company expects to announce additional details regarding the proposed business combination when a definitive agreement is signed, which is expected in the fourth quarter of 2022.
No assurance can be given that the parties will successfully negotiate and enter into a definitive agreement, or that the proposed transaction will be completed on the terms or schedule currently contemplated, or at all. Any transaction would be subject to approval by the board of directors and shareholders of both companies, regulatory approvals and other customary conditions.
ABOUT ALPHA STAR ACQUISITION COMPANY
The Company is a blank check company incorporated in
IMPORTANT INFORMATION AND WHERE TO FIND IT
If a legally binding definitive agreement regarding the proposed business combination is signed, the Company intends to file a preliminary proxy statement (a “Transaction Proxy Statement”) with the
This communication may be considered an offer or solicitation document relating to the proposed transaction, which will be submitted to the shareholders of the Company for their consideration. The Company urges investors, shareholders and other interested persons to read carefully, when available, the preliminary and definitive proxy statement and other documents filed with the
PARTICIPANTS IN THE SOLICITATION
The Company and its directors, officers, other officers and employees may be considered participants in the solicitation of proxies with respect to the potential transaction described herein under the rules of the
NO OFFER OR SOLICITATION
This press release does not constitute a solicitation of proxy, consent or authorization with respect to any security or with respect to the proposed business combination. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration. or qualification under the securities laws of such jurisdiction. No offer of securities will be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the Company’s current expectations and are subject to numerous conditions, risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements, many of which are beyond the control of the Company. Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended
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