Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 0

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
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Overview

We
are a blank check company incorporated in the Cayman Islands on November 29, 2022 as an exempted company with limited liability. We were
formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or
similar business combination with one or more businesses or entities, which we refer to as a “target business.”

In
November 2022, March 2023 and January 2024, an aggregate of 1,725,000 initial shares were issued to our initial shareholders for an aggregate
purchase price of $25,000, or approximately $0.014 per share.

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. Each unit consists of
one ordinary share and one right. Each nine rights entitle the holder thereof to receive one ordinary share at the closing of a
business combination. 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 DT Cloud
Star Management Limited, our sponsor, of 206,900 units at a price of $10.00 per private unit, generating total gross proceeds of
$2,069,000. A total of $69,000,000 of the net proceeds from our initial public offering were deposited in a trust account
established for the benefit of our public shareholders, with Wilmington Trust National Association acting as trustee.

Our
Units started to be listed on The Nasdaq Global Market (the “Nasdaq”) 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