Company: DTSQ
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010262
Chunk: 38

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 38
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 entitled to redeem their public shares for a pro rata portion of the amount then in the Trust Account (initially
$10.00 per public share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the
Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their public shares will not be
reduced by the deferred underwriting commissions the Company will pay to the underwriter (as discussed in Note 7). There will be no redemption
rights upon the completion of a Business Combination with respect to the Company’s rights. The ordinary shares will be recorded
at redemption value and classified as temporary equity upon the completion of the Initial Public Offering, in accordance with Accounting
Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.”

The
Company will proceed with a Business Combination if the Company seeks shareholder approval, a majority of the outstanding shares voted
are voted in favor of the Business Combination. If a shareholder vote is not required and the Company does not decide to hold a shareholder
vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association,
offer such redemption pursuant to the tender offer rules of the SEC, and file tender offer documents containing substantially the same
information as would be included in a proxy statement with the SEC prior to completing a Business Combination.

    6

DT
CLOUD STAR ACQUISITION CORPORATION

NOTES
TO UNAUDITED FINANCIAL STATEMENTS

The
Sponsor and any of the Company’s officers or directors that may hold Founder Shares (as described in Note 5) (as defined the “initial
shareholders”) are identical to the ordinary shares included in the units being sold in this offering except that the founder shares
are subject to certain transfer restrictions, as described in more detail below: the sponsor, officers and directors have entered into
a letter agreement with us, pursuant to which they have agreed (i) to waive their redemption rights with respect to their founder shares,
private placement shares and public shares in connection with the completion of the initial business combination, (ii) to waive their
redemption rights with respect to any founder shares, private placement shares and public shares held by them in connection with a shareholder
vote to approve an amendment to the amended and restated memorandum and articles of association (A) to modify the substance or timing
of obligation to provide for the redemption of