Global Star Acquisition, Inc. entered into a merger agreement to acquire K Enter Holdings Inc. in a transaction valued at $610 million.

Global Star Acquisition, Inc. (NasdaqGM:GLST) entered into a merger agreement to acquire K Enter Holdings Inc. in a transaction valued at $610 million on June 15, 2023. The transaction has been valued at $610 million. Following the closing of the merger agreement, the parent of the combined company will be named “K Wave Media Ltd.” and we expect that its securities will be listed on The Nasdaq Stock Market.

The transaction is subject to customary closing conditions and regulatory approvals. The transaction is anticipated to be completed in the late fourth quarter of 2023. Nelson Mullins Riley & Scarborough LLP acted as legal advisor to Global Star.

Lee & Ko L.L.P. acted as Korean legal advisor and Loeb & Loeb LLP acted as U.S. legal advisor, PWC acted as auditor, and KPMG acted as the financial advisor to K Enter.