Company: DTSQ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001493152-25-020876
Chunk: 68

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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daq”) and began trading under the ticker symbol “DTSQU”
on July 25, 2024. On September 12, 2024, we announced that the holders of the Units may elect to separately trade the underlying component
securities of the Units commencing on September 16, 2024. Those Units not separated continue to trade on Nasdaq under the symbol “DTSQU,”
and each of the Ordinary Shares and Rights that have been separated trade on Nasdaq under the symbols “DTSQ” and “DTSQR,”
respectively.

Our
efforts to identify a prospective target business will not be limited to a particular industry or geographic location. Our management
team is actively seeking out potential opportunities to pursue a business combination. Completion of an initial business combination
is subject to, among other things, the negotiation and execution of a definitive agreement providing for the transaction, satisfaction
of the closing conditions included therein and approval of the transaction by our shareholders. Accordingly, there can be no assurance
that a definitive agreement will be entered into or that the proposed transaction will be consummated in the near term. Nevertheless,
we are confident that we will be able to find a target business that will meet expectations. We intend to capitalize on the strengths
and experiences of our management team to select, acquire and form a business combination that has a competitive advantage in their core
business and is positioned to bring in high returns and long-term sustainable growth.

Liquidity
and Capital Resources

On
July 26, 2024, we consummated the initial public offering of 6,900,000 Units, which includes the exercise in full by the underwriters
of their over-allotment option to purchase up to an additional 900,000 Units on July 25, 2024. The Units were sold at an offering price
of $10.00 per Unit, generating gross proceeds of $69,000,000. Simultaneously with the closing of our initial public offering on July
26, 2024, we consummated the private placement with the Sponsor of 206,900 private units at a price of $10.00 per private unit, generating
total gross proceeds of $2,069,000.

Following
our initial public offering and the private placement, a total of $69,000,000 of the net proceeds were deposited in the trust account.
We intend to use substantially all of the funds held in the trust account, including any amounts representing