Metal Sky Star Acquisition Amends Investment Management Trust Agreement and Extends Business Combination Period

Metal Sky Star Acquisition Corporation (NASDAQ: MSSAU) has announced the approval and entry into an amendment to the Investment Management Trust Agreement. The agreement, approved at the extraordinary general meeting of stockholders held on November 12, 2024, allows Metal Sky Star Acquisition Corporation (MSSA) to extend the Business Combination Period for an additional period.

The amendment, referred to as the Trust Amendment, was made with Wilmington Trust, N.A., as trustee, and Vstock Transfer LLC. It enables MSSA to prolong the Business Combination Period for eight additional one-month periods from August 5, 2024, to April 5, 2025. To extend this period, MSSA will be required to deposit $50,000 as a Monthly Extension Fee for each one-month extension.

Additionally, MSSA shareholders approved an amendment to the Amended and Restated Memorandum and Articles of Association at the Extraordinary General Meeting. The Amendment extends the date by which MSSA has to finalize a business combination up to eight times, with each extension adding an extra one-month period, now stretching the deadline to April 5, 2025.

The approval at the meeting included shareholders confirming the resolution to amend the Amended and Restated Memorandum and Articles of Association, which required at least two-thirds of the issued and outstanding voting shares to be in favor. The voting results were 5,157,538 in favor, 337,384 against, with no abstentions.

Moreover, shareholders also endorsed the proposal to amend the Trust Agreement, granting MSSA the right to extend the Business Combination Period by depositing $50,000 for each one-month period. This amendment required the approval of at least 65% of the outstanding shares, with voting results showing 5,157,538 votes in favor and 337,384 against.

In connection with the shareholders’ vote at the Extraordinary General Meeting, 2,649,965 shares were tendered for redemption. The Company has provided a copy of the full text of the Amendment and the Trust Amendment, which are filed with this Current Report on Form 8-K.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Metal Sky Star Acquisition’s 8K filing here.

Metal Sky Star Acquisition Company Profile

Metal Sky Star Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Hoboken, New Jersey.