Company: DTSQ
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001641172-25-022963
Chunk: 60

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 900,000 Units on July 25, 2024. Each Unit consists
of one ordinary share, par value $0.0001 per share (“Ordinary Share”), and one right (“Right”) to receive one-ninth
(1/9) of one Ordinary Share upon the consummation of an initial business combination. The Units were sold at an offering price of $10.00
per Unit, generating gross proceeds of $69,000,000. A.G.P./Alliance Global Partners (“A.G.P.”) served as the representative
of the underwriters of our initial public offering.

Simultaneously
with the closing of our initial public offering on July 26, 2024, we consummated the private placement with DT Cloud Star Management
Limited, the sponsor (“Sponsor”), of 206,900 private units at a price of $10.00 per private unit, generating total gross
proceeds of $2,069,000. As of July 26, 2024, 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 stockholders, with Wilmington Trust National Association acting as trustee.

18

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.

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