Metal Sky Star Acquisition Corp Announces Liquidation, Redeems Public Shares

What Happened
On September 22, 2026, Metal Sky Star Acquisition Corporation announced it will not seek an extension to complete an initial business combination by the October 4, 2026 deadline. The Board determined to liquidate the company as a SPAC: Wilmington Trust will liquidate the trust account and the Company will redeem the public ordinary shares (pro rata in cash), cease operations except to wind up affairs, cancel warrants/rights and certain private placement units, delist its securities, and file a Form 15 to terminate SEC reporting.

Key Details

• Decision date: September 22, 2026; no extension sought for the October 4, 2026 deadline.
• Redemption timing: public shares to be redeemed or trust proceeds distributed as promptly as reasonably possible but no more than 10 business days after the Board’s determination.
• Redemption amount: cash per share equal to the aggregate amount on deposit in the trust account divided by outstanding public shares, net of taxes payable and excluding up to US$50,000 of interest (reserved to pay liquidation expenses).
• Sponsor actions and corporate wind-down: the Sponsor waived its redemption rights for founder shares/private placement units; the Board approved canceling warrants/rights, delisting/deregistration, and ceasing most operations while completing the wind-up.

Why It Matters
This filing means the SPAC will not pursue a merger and instead will return cash in its trust to public shareholders. Retail investors holding the public ordinary shares should expect a pro rata cash distribution (the exact per-share Redemption Amount will depend on the trust balance and taxes) within the stated timeframe. After distributions, the company plans to stop reporting to the SEC and delist, so holders should watch for the formal redemption notice and timing to receive funds. The filing also notes the usual forward-looking statement disclaimers and refers investors to the company’s SEC filings for more details.