Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 1389

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 1389
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 any public shares properly tendered
in connection with a shareholder vote to amend the Company’s Amended and Restated Memorandum and Articles of Association to (A)
modify the substance or timing of the Company’s obligation to redeem 100% of its public shares if the Company does not complete
its initial Business Combination within 15 months from the closing of the Initial Public Offering or (B) with respect to any other provision
relating to shareholders’ rights or pre-business combination activity and (iii) the redemption of all of the Company’s public
shares if the Company is unable to complete its initial Business Combination within 15 months from the closing of the Initial Public
Offering, subject to applicable law.

As
of December 31, 2024 and 2023, the Company has $70,456,287 and $nil marketable securities held in the Trust Account, respectively.

    F-7

DT
CLOUD STAR ACQUISITION CORPORATION

NOTES
TO AUDITED FINANCIAL STATEMENTS

Business
Combination

The
Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering
and sale of the Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating
a Business Combination. Nasdaq rules provide that the Business Combination must be with one or more target businesses that together have
a fair market value equal to at least 80% of the balance in the Trust Account (less any deferred underwriting commissions and taxes payable
on interest earned) at the time of the signing of an agreement to enter into a Business Combination. The Company will only complete a
Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company
under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination.

The
Company will provide its shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of a
Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means
of a tender offer. In connection with an initial Business Combination, the Company may seek shareholder approval of a Business Combination
at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of