Global Star Acquisition has entered into a merger agreement with K Enter Holdings in a deal valued at $610 million.
K Enter holds contracts to acquire seven diversified entertainment operating companies based in Korea, engaged in the entertainment content and IP creation businesses, and K Enter plans to close those acquisitions prior to completion of the merger with Global Star.
Global Star currently has approximately $92 million in trust, which will be available to the combined company upon completion of the merger, assuming no redemptions. Deal completion is expected late in the fourth quarter.
The SPAC raised $80 million in an IPO last September with plans at that time to focus on fintech and proptech businesses that offer technology solutions, software, services or products to the financial services or real estate industries.
Source: Global Star Acquisition Merging with Korean Entertainment Company K Enter in 0M Deal