Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 419

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 419
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 income from the proceeds derived from the Initial Public Offering.

The
registration statement for the Company’s Initial Public Offering was declared effective on July 24, 2024. On July 26, 2024, the
Company consummated the Initial Public Offering of 6,900,000 units (the “Public Units”), which includes 900,000 Public Units
upon the full exercise by the underwriter of its over-allotment option, at $10.00 per Public Unit, generating gross proceeds of $69,000,000
to the Company. Each Public Unit consists of one ordinary share and one right (“Public Rights”). Each whole Public Right
will entitle the holder to receive one-ninth (1/9) ordinary share upon consummation of initial business combination.

Simultaneously
with the closing of the Initial Public Offering, the Company consummated the sale of 206,900 units (the “Private Placement Units”)
at a price of $10.00 per Private Placement Unit in a private placement to DT Cloud Star Management Limited (the “Sponsor”),
generating gross proceeds of $2,069,000 to the Company. Each Private Placement Unit consists of one Private Placement Share and one right
(“Private Placement Right”). Each Private Placement Right will entitle the holder to receive one-ninth (1/9) ordinary share
upon consummation of the initial business combination.

Transaction
costs amounted to $2,175,819, consisting of $1,035,000 of underwriting commissions, $690,000 of deferred underwriting commissions and
$450,819 of other offering costs.

Trust
Account

Following
the closing of the Initial Public Offering, the aggregate amount of $69,000,000 ($10.00 per Public Unit) was held in a trust account
(“Trust Account”) established for the benefit of the Company’s public shareholders and maintained by Wilmington Trust,
acting as trustee. The fund will be invested only in U.S. government treasury bills, with a maturity of 185 days or less or in money
market funds investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940,
as amended (the “Investment Company Act”). Except with respect to interest earned on the funds held in the Trust Account
that may be released to the Company to pay its taxes, if any, the funds in the Trust Account will not be released until