Golden Star Acquisition Corporation (NASDAQ:GODNU), a blank check company, has announced the postponement of its extraordinary general meeting originally scheduled for today. The meeting, aimed at approving a reduced monthly fee into the trust account to extend the deadline for an initial business combination, will now take place on Wednesday.
The board of directors decided to reschedule the meeting to July 3, 2024, to allow more time for shareholder engagement. Shareholders of record as of June 10, 2024, are entitled to vote at the rescheduled meeting, which will be held at 10 a.m. Eastern Time at the offices of Wilson Sonsini Goodrich & Rosati in New York City.
In light of this postponement, the deadline for shareholders to redeem their ordinary shares or to withdraw any previously submitted redemption requests has been extended to 5 p.m. Eastern Time on July 1, 2024.
Golden Star Acquisition Corp has retained Advantage Proxy, Inc. to assist with proxy solicitation. Shareholders seeking assistance with voting or directing votes can contact Advantage Proxy at the provided toll-free number or email.
Golden Star Acquisition Corp, incorporated in the Cayman Islands, is listed on The Nasdaq Stock Market under the symbols GODNU for units, GODN for ordinary shares, and GODNR for rights. Each unit consists of one ordinary share and one right to receive two-tenths of one ordinary share.
This update is based on information from the company's latest SEC filing.
In other recent news, Golden Star Acquisition Corp has extended its existing merger agreement with Gamehaus Inc. until February 4, 2025. This amendment, disclosed in a recent SEC filing, provides Golden Star with additional time to finalize the business combination with the Cayman Islands-based company. The initial agreement, announced in 2023, involved Golden Star merging with Gamehaus and its related entities, with Gamehaus becoming a publicly traded entity as a result.
InvestingPro Insights
As Golden Star Acquisition Corporation (NASDAQ:GODNU) navigates through its extended timeline for an initial business combination, investors and shareholders may consider recent data and insights from InvestingPro. The company's Market Cap stands at a modest $79.3 million, indicating a smaller scale operation within the blank check space. Despite trading near its 52-week high, the stock shows low price volatility, which could appeal to investors seeking less turbulent investment opportunities.
An InvestingPro Tip highlights that GODNU is currently trading at a high earnings multiple with a P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 at 42.69. This valuation metric suggests that the market has optimistic growth expectations for the company. Additionally, the company has been profitable over the last twelve months, which may instill confidence in its financial stability amidst the search for a business combination. However, it's worth noting that the stock is in overbought territory according to the RSI, and it does not pay a dividend to shareholders, which could influence investment strategies focused on income or value.
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