Company: DTSQ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001493152-25-020876
Chunk: 49

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 49
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 the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

Going
Concern Consideration and Management Liquidity Plans

The
Company initially has 15 months from the consummation of the Initial Public Offering to consummate the initial Business Combination.
If the Company does not complete a Business Combination within 15 months from the consummation of the Initial Public Offering, the Company
will trigger an automatic winding up, dissolution and liquidation pursuant to the terms of the Amended and Restated Memorandum and Articles
of Association. As a result, this has the same effect as if the Company had formally gone through a voluntary liquidation procedure under
the Companies Act (As Revised) of the Cayman Islands. Accordingly, no vote would be required from our shareholders to commence such a
voluntary winding up, dissolution and liquidation.

On
October 22, 2025, the Company entered into an amendment (the “Trust Amendment”) to the Investment Management Trust Agreement
(the “Trust Agreement”), with Wilmington Trust National Association. Pursuant to the Trust Amendment, the Company has the
right to extend the time for it to complete its Business Combination (the “Combination Period”) under the Trust Agreement
for a period for 12 months from October 26, 2025 to October 26, 2026 by depositing into the Trust Account $75,000 for all remaining public
shares (the “Extension Payment”) for each one-month extension. On October 23, 2025, the Company deposited the initial payment of $75,000
in the Trust Account, to initially extend the date by which the Company can complete an initial business combination by one month to November
26, 2025.

If
the Company is unable to consummate the Company’s initial Business Combination by October 26, 2026 (unless further extended), the
Company will, as promptly as possible but not more than ten business days thereafter, redeem 100% of the Company’s outstanding
public shares for a pro rata portion of the funds held in the Trust Account, including a pro rata portion of any interest earned on the
funds held in the Trust Account and not necessary to pay taxes, and then seek to liquidate and dissolve. However, the Company may not
be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of the Company’s
public shareholders. In the event of dissolution