Starlink AI Acquisition Corp 8-K

What Happened Starlink AI Acquisition Corp (OTAI) announced on May 11, 2026 that it consummated its IPO of 10,000,000 units at $10.00 per unit, raising $100,000,000, and simultaneously completed a private placement of 221,500 units to its sponsor JKapital Ltd. at $10.00 per unit, raising $2,215,000. Each Unit/Private Unit consists of one ordinary share (par value $0.0001) and one right; each right entitles the holder to receive one-fourth of one ordinary share upon completion of an initial business combination. A total of $100,500,000 of the proceeds was deposited into a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company. An audited balance sheet as of May 11, 2026 reflecting these proceeds was issued and filed as Exhibit 99.1.

Key Details

• IPO: 10,000,000 units at $10.00 each = $100,000,000 gross proceeds.
• Private Placement: 221,500 units to sponsor JKapital Ltd. at $10.00 each = $2,215,000 gross proceeds.
• Trust Account: $100,500,000 placed in a U.S.-based trust with Continental Stock Transfer & Trust Company as trustee.
• Disclosure: Audited balance sheet dated May 11, 2026 included as Exhibit 99.1 to the Form 8-K.

Why It Matters For investors, this filing confirms the SPAC has completed its capital raise and that the full offering proceeds are secured in a trustee-held trust account pending an initial business combination. The sponsor’s private units and the rights structure (one right = 1/4 share upon a business combination) are standard SPAC mechanics that affect future share conversion and potential dilution. The audited balance sheet provides verified financial confirmation of the cash on hand and the offering’s completion.