Metal Sky Star Acquisition Corporation announced it will liquidate promptly after failing to consummate an initial business combination by October 4, 2026. Public shareholders are expected to receive approximately $16.41 per share from the company's trust account.

The redemption amount is calculated after payment of taxes and up to $50,000 of interest allocated for dissolution expenses. The distribution is scheduled for on or about October 2, 2026. Beneficial owners holding ordinary shares in "street name" do not need to take any action to receive these funds.

Liquidation timeline and trading halt

The company confirmed that the last day of trading for its ordinary shares, redeemable warrants, and units on the OTC Markets will be October 2, 2026. This date aligns with the expected redemption payout, marking the end of the special purpose acquisition vehicle's public listing.

Sponsor waiver and warrant status

The company's sponsor waived its redemption rights regarding outstanding founder shares and private placement shares. Consequently, there will be no liquidating distributions with respect to the company’s rights and redeemable warrants. This structure is typical for blank check companies where sponsor capital is at risk if no deal is finalized.

What the numbers show

The redemption price of $16.41 reflects the net trust value available to public shareholders after mandatory deductions. The explicit cap of $50,000 in interest reserved for dissolution expenses indicates that administrative costs were a minor factor in the final per-share value relative to the total trust balance. The alignment of the last trading day and the payout date minimizes the period during which shares trade without a clear underlying asset backing.