Alpha Star Acquisition in a proxy filing seeks a deadline extension until March 2024 while it continues to work on moving from an LOI with Cyclebit Group, a global payments and SaaS provider, to a formal merger agreement. The LOI was announced last September.
Cyclebit's core products include card acquiring, point-of-sale services and marketplace solutions.
The SPAC raised $100 million in a December 2021 IPO. While its current deadline expires in September, the SPAC said its board doubts that leaves enough time to complete a deal. Read more.