UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously disclosed in the Notification of Late Filing on Form 12b-25 filed on May 15, 2023 and Amendment No. 1 filed on May 23, 2023 by Global Star Acquisition Inc. (the “Company”) with the Securities Exchange Commission, the Company had determined that it required additional time to complete its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the “Q1 2023 Form 10-Q”) and expected to receive a notice from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) that the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1). The Company received such notice (the “Compliance Letter”) on May 23, 2023, which has no immediate effect on the listing or trading of the Company’s securities on the NASDAQ Capital Market. As previously reported on Form 8-K filed with the SEC on April 19, 2023, the Company received a notice (the “Initial Compliance Letter”) on April 19, 2023, with respect to the late filing of the Annual Report on Form 10-K which has no immediate effect on the listing or trading of the Company’s securities on the NASDAQ Capital Market. Pursuant to the Compliance Letter, by June 20, 2023 (60 calendar days from the date of the Initial Compliance Letter) the Company is required to submit a plan to regain compliance with NASDAQ’s filing requirements for continued listing, upon the acceptance of which NASDAQ may grant an extension of up to 180 days from the due date of the Annual Report on Form 10-K for the year ended December 31, 2022, or until October 16, 2023, for the Company to regain compliance with NASDAQ’s filing requirements for continued listing.
The Company filed its Annual Report on Form 10-K on May 25, 2023. The Company anticipates that it will file the Q1 2023 Form 10-Q prior to June 20, 2023, eliminating the applicability of the submission of a formal plan to regain compliance.
| Item 8.01. | Other Events. |
A press release disclosing the Company’s receipt of the Compliance Letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press Release Dated May 26, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Global Star Acquisition Inc. | ||||||
| Date: May 26, 2023 | By: | /s/ Anthony Ang | ||||
| Anthony Ang | ||||||
| Chief Executive Officer | ||||||