Metal Sky Star Acquisition Corporation (MSSUF) announced on September 22, 2026, that it will not seek an extension to complete its initial business combination, which was originally due by October 4, 2026. As a result, the blank check company has determined to liquidate its assets and dissolve.
The company’s Board of Directors unanimously approved a plan to cease all operations except for winding down the business. The plan includes the following steps:
- Redemption: Public shareholders will receive a cash distribution equal to the aggregate amount in the trust account, net of taxes and up to $50,000 of interest for liquidation expenses.
- Trading: The last day of trading for the company’s ordinary shares, redeemable warrants, and units on the OTC Markets is expected to be October 2, 2026.
- De-listing: The company intends to de-list its securities from its current trading market and file a Form 15 with the SEC to terminate its reporting obligations.
- Committee Cessation: The audit, compensation, and nominating committees will cease operations.
According to the company’s press release, public shareholders are expected to receive approximately $16.41 per share on or about October 2, 2026. Beneficial owners holding shares in street name do not need to take any action to receive this amount.
The company’s sponsor, M-Star Management Corporation, has waived its redemption rights regarding outstanding founder shares and private placement units. Additionally, there will be no liquidating distributions for the company’s rights and redeemable warrants.
