Make the spiced simple syrup: Combine star anise, cardamom, cloves, and cinnamon sticks in a Saucepan. Add 1 cup water and raw sugar and bring to a boil. Once boiling, reduce heat and simmer for 10 minutes. Remove from heat and allow simple syrup to cool, then strain over a bowl; discard spices. Allow to chill before using. (You can keep syrup in an airtight container in the fridge or up to 2 weeks.)

Make the cocktail: Add amaro, sherry, spiced simple syrup, Prosecco, and sparkling water to a White Wine Glass. Give cocktail a quick stir, top with ice, and serve with orange wedge and cinnamon stick.