Company: DTSQ
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001493152-25-020876
Chunk: 100

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 2
Chunk 100
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Unregistered
Sales of Equity Securities

In
November 2022, March 2023 and January 2024, an aggregate of 1,725,000 insider shares were issued to our initial shareholders, for an
aggregate purchase price of $25,000, or approximately $0.014 per share. The insider shares held by our initial shareholders included
an aggregate of up to 225,000 shares subject to forfeiture by our sponsor to the extent that the underwriters’ over-allotment option
was not exercised in full or in part, so that our initial shareholders would collectively own 20.0% of our issued and outstanding shares
after our initial public offering (excluding the sale of the private units and the issuance of representative shares and assuming our
initial shareholders did not purchase units in our initial public offering). On July 25, 2024, the underwriters exercised their over-allotment
option in full.

Simultaneously
with the closing of our initial public offering on July 26, 2024, we consummated the private placement with the Sponsor of 206,900 private
units at a price of $10.00 per private unit. This issuance was made pursuant to Section 4(a)(2) of the Securities Act, as the transaction
did not involve a public offering. No underwriting discounts or commissions were paid with respect to the private placement.

Use
of Proceeds

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. 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 the 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 was deposited in a trust account established
for the benefit of our public stockholders, with Wilmington Trust National Association acting as trustee.

The
securities sold in our initial public offering