Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 396

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 396
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 The transaction contemplated in the Merger Agreement was completed
on January 24, 2025.

On
October 22, 2024, DT Cloud Acquisition Corporation (“DT Cloud”) entered into a definitive business combination agreement
with Maius Pharmaceutical Co., Ltd. (“Maius”), Maius Pharmaceutical Group Co., Ltd., a Cayman Islands exempted company (“Pubco”),
Chelsea Merger Sub 1 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of Pubco (“Merger Sub 1”),
Chelsea Merger Sub 2 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of Pubco (“Merger Sub 2”),
and XXW Investment Limited, a BVI business company, as the Company Shareholders’ Representative (the “Target Shareholders’
Representative”) (such agreement, the “Business Combination Agreement”). The business combination involves multiple
steps and will result in the cancellation and conversion of various shares into Pubco’s Ordinary Shares. After the closing of the
transactions contemplated by the Business Combination Agreement, DT Cloud will become a wholly owned subsidiary of Pubco. The closing
of the business combination is subject to various conditions, such as shareholder approvals and regulatory clearances (including the
necessary approval from the China Securities Regulatory Commission). The Business Combination Agreement and related agreements are further
described in DT Cloud’s current report on Form 8-K filed with the SEC on October 22, 2024. On January 24, 2025, the transactions
contemplated in the Merger Agreement have not been closed. Maius and Pubco filed a registration statement on Form F-4 with the SEC on
February 28, 2025. As of the date of this Report, the transactions contemplated in the Business Combination Agreement have not been closed.

In
connection with the vote required for any business combination, all of our existing shareholders, including all of our officers and directors,
have agreed to vote their respective initial shares and private shares in favor of any proposed business combination. In addition, they
have agreed to waive their respective rights to participate in any liquidation distribution with respect to those ordinary shares acquired
by them prior to our initial public offering. If they purchase ordinary shares in our initial public offering or in the open market,
however, they would be entitled to participate in any liquidation distribution in respect of such shares but have agreed not to convert
such shares (or sell their shares in any tender offer) in connection with