NOTE 8 — SUBSEQUENT EVENTS

On June 2, 2017, the board of directors of Stellar Acquisition III Inc. (the “Company”) determined that, as of May 31, 2017 (the end of the Company’s second fiscal quarter), the Company no longer qualified as a “foreign private issuer” as defined in Rule 405 under the Securities Act of 1933, as amended. Until May 31, 2017, the Company qualified as a foreign private issuer but voluntarily chose to comply with the federal securities laws applicable to domestic registrants. Since the Company no longer qualifies as a foreign private issuer, it is subject to, among things, the federal proxy rules under the Securities Exchange Act of 1934, as amended. Accordingly, the Company will have the option of conducting redemptions in connection with the completion of its initial business combination like other domestic blank check companies either pursuant to a shareholder meeting called to approve the business combination or pursuant to a tender offer.