Company: DTSQ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001417
Chunk: 128

Company: DT Cloud Star Acquisition Corp
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 128
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 extend the date by which we must consummate our initial business combination.
If we seek shareholder approval for an extension, our public shareholders will be offered an opportunity to redeem their shares at a
per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net of taxes
payable), divided by the number of then issued and outstanding public shares, subject to applicable laws.

Administrative
Services Arrangement

An
affiliate of the sponsor will agree that, commencing from the date that the Company’s securities are first listed on Nasdaq through
the earlier of our consummation of a business combination and its liquidation, to make available to us certain general and administrative
services, including office space, administrative and support services, as we may require from time to time. We have agreed to pay the
affiliate of the sponsor $10,000 per month for these services commencing on the closing date of our initial public offering for 15 months.
In 2023 and 2024, we paid administrative expense of $nil and $nil, respectively.

76

Working
Capital Loans

In
order to meet our working capital needs following the consummation of our initial public offering until completion of an initial business
combination or to extend the period of time to consummate a business combination, our initial shareholders, officers and directors or
their affiliates may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable
in their sole discretion. Each loan would be evidenced by a promissory note. The promissory note would either be paid upon consummation
of our initial business combination, without interest, or, at the lender’s discretion, up to $300,000 of the promissory note may
be converted upon consummation of our business combination into private units at a price of $10.00 per unit. In the event that the initial
business combination does not close, we may use a portion of proceeds held outside the trust account to repay the working capital loans,
but no proceeds held in the trust account would be used to repay the working capital loans.

On
October 28, 2024, we issued an unsecured promissory note to the sponsor, pursuant to which we may borrow up to an aggregate principal
amount of $300,000 (the “Working Capital Loan Note”). The Working Capital Loan Note is non-interest-bearing and payable on
the consum