Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 1041

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 1041
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 2024. On January 24, 2025, the transactions
contemplated in the Merger Agreement have not been closed. Maius and Pubco filed a registration statement on Form F-4 with the SEC on
February 28, 2025. As of the date of this Report, the transactions contemplated in the Business Combination Agreement have not been closed.

In
connection with the vote required for any business combination, all of our existing shareholders, including all of our officers and directors,
have agreed to vote their respective initial shares and private shares in favor of any proposed business combination. In addition, they
have agreed to waive their respective rights to participate in any liquidation distribution with respect to those ordinary shares acquired
by them prior to our initial public offering. If they purchase ordinary shares in our initial public offering or in the open market,
however, they would be entitled to participate in any liquidation distribution in respect of such shares but have agreed not to convert
such shares (or sell their shares in any tender offer) in connection with the consummation of our initial business combination or an
amendment to our post-offering amended and restated memorandum and articles of association relating to pre-business combination activity.

All
ongoing and future transactions between us and any of our officers and directors or their respective affiliates will be on terms believed
by us to be no less favorable to us than are available from unaffiliated third parties. Such transactions will require prior approval
by our audit committee and a majority of our uninterested “independent” directors, or the members of our board who do not
have an interest in the transaction, in either case who had access, at our expense, to our attorneys or independent legal counsel. We
will not enter into any such transaction unless our audit committee and a majority of our disinterested “independent” directors
determine that the terms of such transaction are no less favorable to us than those that would be available to us with respect to such
a transaction from unaffiliated third parties.

71

We
are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors
or making the acquisition through a joint venture or other form of shared ownership with our sponsor, directors or officers. In the event
we seek to complete our initial business combination with a company that is affiliated with our sponsor or any of our officers or directors,
we, or a committee of independent directors, will obtain an opinion from an independent investment banking