ALSA Alpha Star Acquisition Corporation

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.     )*

Alpha Star Acquisition Corporation

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G0230C108

(CUSIP Number)

December 31, 2022

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☒ Rule 13d–1(b)

☐ Rule 13d–1(c)

☐ Rule 13d–1(d)

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Page 2 of 5

Item 1(a) Name of issuer:                                          Alpha Star Acquisition Corporation                                         

Item 1(b) Address of issuer’s principal executive offices:     80 BROAD STREET, 5TH FLOOR, NEW YORK, NY, 10004

2(a) Name of person filing:

  Mizuho Financial Group, Inc.                                                                                              

2(b) Address or principal business office or, if none, residence:

  1–5–5, Otemachi, Chiyoda–ku, Tokyo 100–8176, Japan                                             

2(c) Citizenship:

  Japan                                                                                                                                                   

2(d) Title of class of securities:

  Common Shares,                                                                                                                                   

2(e) CUSIP No.:

  G0230C108                                                                                                                                       

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:   1,027,250  .

(b) Percent of class:   7.00  .

Dissolution of a group requires a response to this item.

Not applicable

See Exhibit A

Not applicable

Not applicable

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect other than activities solely in connection with a nomination under §240.14a-11.

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to a parent holding company is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution. I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

Signatures

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Power of Attorney

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations thereunder, the undersigned, in the undersigned capacity as an authorized representative of Mizuho Financial Group, Inc. (the “Company”), hereby grants full power and authority to Shigeru Umekawa, Managing Director, Head of Global Branches & Subsidiaries Coordination Global Corporate Function Coordination Department, to:

The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever required, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute, shall lawfully do or cause to be done by virtue of this Limited Power of Attorney and the rights and powers herein granted.

The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request and on the behalf of the undersigned, is not assuming any of the undersigned’s responsibilities to comply with, or any liability for the failure to comply with, any provision of Section 13 of the Exchange Act.

This Limited Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 13G with respect to the Company’s holdings of and transactions in securities, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.

[Signature page to follow]

SIGNATURE

IN WITNESS WHEREOF, the undersigned hereby has caused this Power of Attorney to be executed.

Mizuho Financial Group, Inc.

Exhibit A

Lists of the relevant subsidiaries

Exhibit B

Power of Attorney

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations thereunder, the undersigned, in the undersigned capacity as an authorized representative of Mizuho Bank, Ltd., Mizuho Americas LLC and Mizuho Securities USA LLC (collectively, the “Companies”), hereby grants full power and authority to Shigeru Umekawa, Managing Director, Head of Global Branches & Subsidiaries Coordination Global Corporate Function Coordination Department of Mizuho Financial Group, Inc., as agent to:

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever required, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this Limited Power of Attorney and the rights and powers herein granted.

The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request and on the behalf of the undersigned, are not assuming any of the undersigned’s responsibilities to comply with, or any liability for the failure to comply with, any provision of Section 13 of the Exchange Act.

This Limited Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 13G with respect to the Companies’ holdings of and transactions in securities, unless earlier revoked by the undersigned in a signed writing delivered to each of the foregoing attorneys-in-fact.

[Signature page to follow]

SIGNATURE

IN WITNESS WHEREOF, the undersigned hereby has caused this Power of Attorney to be executed.

Mizuho Bank, Ltd

SIGNATURE

IN WITNESS WHEREOF, the undersigned hereby has caused this Power of Attorney to be executed.

Mizuho Americas LLC

SIGNATURE

IN WITNESS WHEREOF, the undersigned hereby has caused this Power of Attorney to be executed.

Mizuho Securities USA LLC