Company: DTSQ
Filing Date: 2025-09-22
Form Type: DEF 14A
Source: 0001493152-25-014462
Chunk: 39

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-09-22
Form: DEF 14A
Chunk 39
---
 did not involve a public offering. No underwriting discounts or commissions were paid with respect to the private placement.

Related Party Loans and Advances

On December 31, 2023, we issued an unsecured promissory note to the sponsor, pursuant to which we may borrow up to an aggregate principal amount of $300,000 (the “2023 Promissory Note”). The 2023 Promissory Note is non-interest-bearing and payable on the earlier of (i) December 31, 2024 and (ii) the date on which we consummate an IPO or the date on which we determine not to conduct the IPO. As of December 31, 2024 and 2023, the principal amount due and owing under the 2023 Promissory Note was $nil and $nil, respectively.

On October 28, 2024, we issued an unsecured promissory note to the sponsor, pursuant to which we may borrow up to an aggregate principal amount of $300,000 (the “Working Capital Loan Note”). The Working Capital Loan Note is non-interest-bearing and payable on the consummation of the initial business combination or converted upon consummation of the business combination into additional private units at a price of $10.00 per unit. As of December 31, 2024, the principal amount due and owing under the Working Capital Loan Note was $nil.

As of December 31, 2024 and 2023, we had a temporary advance of $84,500 and $8,756 from the sponsor, respectively. The balance is unsecured, interest-free and has no fixed terms of repayment.

We have until 15 months from the closing of our initial public offering to complete a business combination. If we anticipate that we may be unable to consummate our initial business combination within such period, we may seek shareholder approval to amend our second amended and restated memorandum and articles of association to extend the date by which we must consummate our initial business combination. If we seek shareholder approval for an extension, our public shareholders will be offered an opportunity to redeem their shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net of taxes payable), divided by the number of then issued and outstanding public shares, subject to applicable laws.

Administrative Services Arrangement

An affiliate of the sponsor will agree that, commencing from the date that the Company’s securities are first listed on Nasdaq through