Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 126

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 126
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), (ii) to a holder’s shareholders or members upon the holder’s liquidation, in each case if the holder
is an entity, (iii) by bona fide gift to a member of the holder’s immediate family or to a trust, the beneficiary of which is the
holder or a member of the holder’s immediate family, in each case for estate planning purposes, (iv) by virtue of the laws of descent
and distribution upon death, (v) pursuant to a qualified domestic relations order, (vi) to us for no value for cancellation in connection
with the consummation of our initial business combination, (vii) in connection with the consummation of a business combination at prices
no greater than the price at which the shares were originally purchased, (viii) in the event of our liquidation prior to its consummation
of an initial business combination or (ix) in the event that, subsequent to the consummation of an initial business combination, we complete
a liquidation, merger, share exchange or other similar transaction which results in all of our shareholders having the right to exchange
their ordinary shares for cash, securities or other property, in each case (except for clauses (vi), (viii) or (ix) or with our prior
written consent) on the condition that prior to such registration for transfer, the transfer agent shall be presented with written documentation
pursuant to which each transferee or the trustee or legal guardian for such transferee agrees to be bound by the transfer restrictions
contained in this paragraph and any other applicable agreement the transferor is bound by.

75

Item
13. Certain Relationships and Related Transactions, and Director Independence

Initial
Shares and Private Placement

In
November 2022, March 2023 and January 2024, an aggregate of 1,725,000 initial shares were issued to our initial shareholders, for an
aggregate purchase price of $25,000, or approximately $0.014 per share. The initial 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