OTAI · Starlink Ai Acquisition Corp.

Starlink AI Acquisition Corporation, a Cayman Islands SPAC, successfully closed its upsized IPO on May 11, 2026, raising $100M through 10M units at $10 each, each comprising one ordinary share and one right convertible to 1/4 ordinary share upon business combination. Concurrently, sponsor JKapital Ltd. purchased 221,500 private units for $2.215M under Section 4(a)(2), identical to public units except for transfer restrictions until 30 days post-combination and certain registration rights. Total $100.5M net proceeds deposited into trust account at Continental Stock Transfer & Trust, invested in U.S. Treasuries or money market funds, releasable only upon business combination, shareholder redemption for extension/amendment, or liquidation after 12-15 months. Key governance updates include appointments of independent directors Richard Lu (audit committee financial expert, chair of audit and nominating committees) and Xue Feng (compensation committee chair), both NYSE-independent, effective May 7 coinciding with S-1 effectiveness. Amended MAA adopted same day supports SPAC structure. Material agreements executed: underwriting with A.G.P., rights/trust with Continental, sponsor letter agreements, registration rights, private placement (amended April 23), admin services ($10k/month), and director/officer indemnities. Press releases announced pricing (May 7) and closing. Event establishes ~$100.5M trust for ~10M public shares at $10/share, positioning for business combination search without industry restriction, 20% founder ownership post-IPO assuming no over-allotment exercise.