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SPAC · Deal announced · ALSAF

Alpha Star Acquisition Corp

Business combination with XData Group

Alpha Star Acquisition Corp (ALSAF) is a blank-check company (SPAC) that raised $100M in its initial public offering on Dec 14, 2021, listing on Nasdaq. It agreed to combine with XData Group, announced on Sep 12, 2024, at a stated value of $180M. The deal has not closed yet. Ladenburg Thalmann led the IPO, with Brookline and Arcadia. Becker & Poliakoff advised the SPAC and Kramer Levin Naftalis & Frankel advised the underwriters on the IPO.

B2B software developer for European banking sector

Status
Deal announced
Ticker
ALSAF
IPO date
Dec 14, 2021
IPO size
$100M
IPO exchange
Nasdaq
Target
XData Group (OU XDATA GROUP)
Target sector
Fintech
Announced
Sep 12, 2024
Stated deal value
$180M
Combined company
Xdata Group
IPO underwriters
Ladenburg Thalmann, Brookline and Arcadia
SPAC counsel (IPO)
Becker & Poliakoff and Ogier
Underwriters' counsel (IPO)
Kramer Levin Naftalis & Frankel

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