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Liquidated · 2 Oct 2026MSSAU · NasdaqCIK 1882464Sponsor at IPO: M-Star Management Corporation

Metal Sky Star Acquisition Corp

Name unchanged · formerly Metal Sky Acquisition Corp · Name history

$115MTrust raised at IPO · 0% of public shares left after its last counted vote

  1. IPO31 Mar 2022
  2. Searching9 months
  3. Deal announced—
  4. Liquidated2 Oct 2026

Tavia Read What stands out, from the filings · snapshot 14

  1. 01

    Smaller than 59% of 2022’s SPAC IPOs.

    $115M raised, against a median of $115M for the 83 SPACs that priced in 2022.

  2. 02

    $10.00 in trust per unit, below the 2022 median.

    The median that year was $10.20. Above $10.00, the sponsor tops up the trust from its own private placement.

  3. 03

    100% of public shares redeemed across 5 votes.

    5 extension votes, counted from the SPAC’s 8-Ks. 0% of the public shares remained after the last one.

  4. 04

    The trust was liquidated.

    Public shares were redeemed and the SPAC did not complete a merger.

Worked out from checked figures in snapshot 14 · no forecasts or advice

Key terms

Other 2022 SPAC IPOs →
IPO priced
31 Mar 2022
IPO closed
5 Apr 2022
Raised
$115M1
Units sold
11,500,0002
Trust raised
$115M3
Trust per unit
$10.004
Unit
1 sh + 1 warrant + 1 right (1/10)5
Months to complete
96
Deadline before extensions
5 Jan 2023
Over-allotment
Exercised in full

Each unit: “one ordinary share, one right to receive one-tenth (1/10) of one ordinary share, and one redeemable warrant”

Name history

The same company under every name it has filed with the SEC, tracked by its CIK, 1882464. This page keeps its IPO name; the others lead here.

  1. Metal Sky Star Acquisition CorpAt IPO31 Mar 2022 – 14 Oct 2021
  2. Metal Sky Acquisition Corp14 Oct 2021 – 14 Oct 2021
  3. Metal Sky Star Acquisition CorpNow14 Oct 2021 – today

Dates are those EDGAR records for each name, as of 16 October 2026. A name change follows a shareholder vote or a merger’s closing, and is reported in an 8-K.

How it compares

Metal Sky Star Acquisition Corp against the 83 SPACs that priced in 2022.

Raised
$115M
43% of 2022 SPACs are above it
2022 median: $115M
Trust per unit
$10.00
94% of 2022 SPACs are above it
2022 median: $10.20
Months to complete
9
84% of 2022 SPACs are above it
2022 median: 15
Redeemed across its votes
100%
88% of 2022 SPACs are below it
2022 median: 98%

Trust and redemptions

  1. Extension vote · 26 Jan 20235,885,324 of 11,500,000 redeemed (51%)
  2. Extension vote · 30 Oct 20232,412,260 of 5,614,676 redeemed (43%)
  3. Extension vote · 12 Nov 20242,649,965 of 3,202,416 redeemed (83%)
  4. Extension vote · 2 Apr 2025491,928 of 552,451 redeemed (89%)
  5. Extension vote · 30 Dec 202537,705 of 60,523 redeemed (62%)

Public shares before each vote and the shares redeemed, as its 8-Ks (or the next 10-Q or 10-K) state them. Only votes whose redemptions were paid count.

Firms named in the prospectus

Company counsel

Auditor

Sponsor

No other SPAC from M-Star Management Corporation or a vehicle of the same name priced since 1 January 2019.

Peers

Other 2022 SPAC IPOs with Ladenburg Thalmann & Co. Inc. as bookrunner.

SPACIPORaisedUnitStatus
Qomolangma Acquisition Corp.29 Sept 2022$52.7M1 sh + 1 warrant + 1 right (1/10)Liquidated
Hainan Manaslu Acquisition Corp.10 Aug 2022$69M1 sh + 1 warrant + 1 right (1/10)Completed

Sources

  1. PFinal prospectus: 0001829126-22-007555
  2. 1Gross proceeds: 0001829126-22-008019The Public Units were sold at an offering price of $10.00 per unit, and the IPO generated aggregate gross proceeds of $115,000,000.
  3. 2Units sold: 0001829126-22-008019consisting of 11,500,000 units (the “Public Units”), including 1,500,000 Public Units as a result of the underwriter’s exercise in full of their over-allotment option.
  4. 3Trust raised: 0001829126-22-008019As of April 5, 2022, a total of $115,000,000 (which amount includes $2,875,000 of the underwriter’s deferred discount), comprised of proceeds from the IPO
  5. 4Trust per unit: 0001829126-22-007555$100,000,000 or $115,000,000 if the underwriters’ over-allotment option is exercised in full ($10.00 per public share)
  6. 5Unit composition: 0001829126-22-007555Each unit has an offering price of $10.00 and consists of one ordinary share, one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination
  7. 6Months to complete: 0001829126-22-007555If we are unable to complete our business combination within 9 months from the closing of this offering

Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.

How the figures are compiled
  • Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
  • Dated by. The date of the final prospectus.
  • Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
  • Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
  • Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
  • Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
  • Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
  • Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
  • Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
  • Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
  • Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
  • Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
  • Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
  • Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
  • Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
  • Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.

Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026

For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.