Alpha Star Acquisition Corp. Files Amended 2021 10-K

TL;DR

Alpha Star Acquisition Corp. amended its 2021 10-K, detailing share structure and financials.

AI Summary

Alpha Star Acquisition Corp. filed an amended 10-K on June 18, 2024, for the fiscal year ending December 31, 2021. The filing details the company's structure, including ordinary shares, redeemable warrants, and units. It also provides financial data related to common stock, additional paid-in capital, and retained earnings as of March 10, 2021, and through December 31, 2021.

Why It Matters

This amended filing provides updated financial and structural information for Alpha Star Acquisition Corp., crucial for investors and analysts tracking the company's historical performance and capital structure.

Risk Assessment

Risk Level: low — The filing is an amendment to a historical 10-K, primarily providing updated details rather than new material events.

Key Numbers

• 0.001 — Par Value (Par value per ordinary share)
• 1/7 — Right Entitlement (Ratio of rights to ordinary shares)
• 1/2 — Warrant Entitlement (Ratio of warrants to ordinary shares)

Key Players & Entities

• Alpha Star Acquisition Corp (company) — Filer of the 10-K/A
• 2021-12-31 (date) — Fiscal year end for the reported period
• 2024-06-18 (date) — Filing date of the amended 10-K
• 80 BROAD STREET, NEW YORK, NY 10004 (address) — Business and mailing address

FAQ

Key Financial Figures

• $0.001 — Registered Ordinary Shares, Par Value $0.001 Per Share ALSA The Nasdaq Stock Mar
• $9.83 — based upon a per share closing price of $9.83). APPLICABLE ONLY TO CORPORATE REGIST
• $115,000,744 — n an overstatement of current assets by $115,000,744, an understatement of non-current asset
• $2,875,000 — overstatement of current liabilities by $2,875,000, and an understatement of non-current l
• $10.00 — , we sold units at an offering price of $10.00 and consisting of one ordinary share, o
• $115,000,000 — 000 units, generating gross proceeds of $115,000,000. Simultaneously with the closing of the
• $3,300,000 — rating gross proceeds to the Company of $3,300,000. The Private Placement Units are identi
• $5,669,696 — mended. Transaction costs amounted to $5,669,696, consisting of $2,300,000 of underwriti
• $2,300,000 — s amounted to $5,669,696, consisting of $2,300,000 of underwriting fees, $2,875,000 of def
• $494,696 — 5,000 of deferred underwriting fees and $494,696 of other offering costs. A total of $11
• $112,700,000 — . A total of $115,000,000, comprised of $112,700,000 of the proceeds from the IPO (which amo
• $477,051 — 021, the Company had working capital of $477,051. The Company's units are listed on Th
• $11.50 — nary share of the Company at a price of $11.50 per whole share. The units began separa
• $300,000,000 — ith a total enterprise value of between $300,000,000 and $600,000,000. We believe that there
• $600,000,000 — prise value of between $300,000,000 and $600,000,000. We believe that there are a substantia

Filing Documents

• form10-ka.htm (10-K/A) — 1152KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-024303.txt ( ) — 4328KB
• alsa-20211231.xsd (EX-101.SCH) — 34KB
• alsa-20211231_cal.xml (EX-101.CAL) — 30KB
• alsa-20211231_def.xml (EX-101.DEF) — 138KB
• alsa-20211231_lab.xml (EX-101.LAB) — 232KB
• alsa-20211231_pre.xml (EX-101.PRE) — 183KB
• form10-ka_htm.xml (XML) — 549KB

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 39 PART II 40 Item 5. Market for the Registrant's Common Equity, and Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. Reserved 41 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 44 Item 8. Financial Statements and Supplementary Data 44 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 44 Item 9A. Controls and Procedures (As Restated) 45 Item 9B. Other Information 45 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 45 PART III 46 Item 10. Directors and Executive Officers of the Registrant 46 Item 11. Executive Compensation 48 Item 12. Security Ownership of Certain Beneficial Owners and Management 49 Item 13. Certain Relationships and Related Transactions 51 Item 14. Principal Accountant Fees and Services 52 PART IV F-1 Item 15. Exhibits and Financial Statement Schedules (As Restated) F-1 Item 16. Form 10-K Summary 53 i FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, or the "Securities Act," and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. The statements contained in this report that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our or our management's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipates," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might,"

Business

Business with Revenue and Earnings Growth Potential. We will seek to acquire one or more businesses that have the potential for significant revenue and earnings growth through a combination of both existing and new product development, increased production capacity, expense reduction and synergistic follow-on acquisitions resulting in increased operating leverage. Companies with Potential for Strong Free Cash Flow Generation. We will seek to acquire one or more businesses that have the potential to generate strong, stable and increasing free cash flow. We intend to focus on one or more businesses that have predictable revenue streams and definable low working capital and capital expenditure requirements. We may also seek to prudently leverage this cash flow in order to enhance shareholder value. Benefit from Being a Public Company. We intend to only acquire a business or businesses that will benefit from being publicly traded and which can effectively utilize access to broader sources of capital and a public profile that are associated with being a publicly traded company. These criteria are not intended to be exhaustive or exclusive. Any evaluation relating to the merits of a particular business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our sponsor and management team may deem relevant. In the event that we decide to enter into an business combination with a target business that does not meet the above criteria and guidelines, we will disclose that the target business does not meet the above criteria in our shareholder communications related to our business combination, which, as discussed in this prospectus, would be in the form of proxy solicitation or tender offer materials, as applicable, that we would file with the United States Securities and Exchange Commission, or the SEC. In evaluating a prospective target business, we expect to conduct a due diligence revi

View Full Filing

View this 10-K/A filing on SEC EDGAR