Global Star Acquisition, Inc. Announces Closing of Full

Mclean, VA, Oct. 04, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Global Star Acquisition, Inc. (NASDAQ: GLSTU) (the “Company”) announced today that it has issued an additional 1,200,000 units consisting of one share of Class A common stock, one redeemable warrant, and one right to receive one-tenth (1/10) of one share of Class A common stock, at the public offering price of $10.00 per share, for total gross proceeds of approximately $12 million, pursuant to the exercise in full of the underwriters’ over-allotment option in connection with the company’s previously announced public offering. After giving effect to the full exercise of the over-allotment option, the total number of units issued by the Company in the public offering was 9,200,000 units and gross proceeds were approximately $92 million.

EF Hutton, division of Benchmark Investments, LLC served as sole book-running manager for the Offering.

The units were issued by the Company pursuant to a registration statement that was previously filed with the Securities and Exchange Commission (“SEC”). A prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov.

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from EF Hutton, division of Benchmark Investments LLC, 590 Madison Ave., 39^th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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