Global Star Acquisition Inc., a special purpose acquisition company (SPAC) under the leadership of CEO Anthony Ang, has recently finalized a merger agreement with K Enter Holdings Inc., a Delaware corporation. K Enter Holdings possesses contracts to acquire a collection of seven diverse entertainment operating companies located in Korea. These entities are actively involved in the creation of entertainment content and intellectual property (IP). It is worth noting that Global Star Acquisition Inc. intends to successfully complete the acquisition of these seven Korean entities before concluding the merger process.

The merger brings together the financial expertise of Global Star with the robust knowledge and experience of K Enter and the Seven Korean Entities in the global entertainment industry. Renowned for their innovative content creation and business models centered around intellectual property (IP), the Seven Korean Entities collectively generated an estimated revenue of around US$153 million in the fiscal year ending on December 31, 2022. Once the merger agreement is finalized, the newly formed company will be known as "K Wave Media Ltd." and there are plans to list its securities on The Nasdaq Stock Market.

Nelson Mullins Riley & Scarborough LLP is serving as legal advisor to Global Star Acquisition Inc. The attorneys involved in the deal are Andy Tucker, Dan Nunn, Woojin Shin, Zalak Raval, Wells Hall, Chip Gray, and Amanda Downing.

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