DT Cloud Star Acquisition Corp.
General Information | |
Business: | We are a blank check company (special-purpose acquisition company or SPAC) based in Brooklyn, N.Y. (Incorporated in the Cayman Islands)We have not selected an industry or a sector as our focus. We will focus our search for a target company (to look for a company) that has compelling economics, potential for high recurring revenue, a defensible market position, and successful management teams that are seeking access to the public capital markets.Our management team is led by Mr. Bian Fan, our chairman and CEO, who who has almost over a decade of combined experience in cross-border mergers and acquisitions, capital raising, deal-making and investment. He is a senior vice president at CITIC Securities, where he leads cross-border M&A and capital markets transactions.Our sponsor, DT Cloud Star Management Limited, has committed to purchasing from us an aggregate of 193,400 units (or up to 206,900 units if the underwriters’ over-allotment option is exercised in full) (the “private units”) at $10.00 per private unit for a total purchase price of $1,934,000 (or $2,069,000 if the underwriters’ over-allotment option is exercised in full). These purchases will take place on a private placement basis simultaneously with the consummation of this offering. These private units are identical to the units sold in this offering, subject to limited exceptions as further described herein. A portion of the proceeds we receive from these purchases will be placed in the trust account described below.(Note: DT Cloud Star Acquisition Corp. priced its SPAC IPO in sync with the terms in the prospectus – 6.0 million units at $10.00 each – to raise $60.0 million on July 24, 2024, according to the company’s news release announcing the pricing. At pricing, DT Cloud Star Acquisition became the fourth SPAC IPO priced so far in July 2024, bringing the SPAC IPO count (pricings) to 20 for the year to date. Background: DT Cloud Star Acquisition Corp. changed the description of the right offered as part of the unit in its SPAC IPO, according to an S-1/A filing dated July 9, 2024: Each unit will consist of one ordinary share and one right to receive one-ninth (1/9) of one ordinary share – compared with one-seventh (1/7) of one ordinary share in the original terms. The SPAC IPO still consists of 6.0 million units at $10.00 each to raise $60.0 million.)(Background: DT Cloud Star Acquisition Corp. filed its S-1 for its SPAC IPO on April 29, 2024, and disclosed the terms: 6.0 million units at $10.00 each to raise $60.0 million. Each unit that we are offering has a price of $10.00 and consists of one ordinary share and one right to receive one-seventh (1/7) of one ordinary share upon the consummation of an initial business combination, as described in more detail in this prospectus. We refer to the rights included in the units as “rights.” )
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Industry: | BLANK CHECKS |
Employees: | 0 |
Founded: | 2022 |
Contact Information | |
Address | Floors 1 through 3, 175 Pearl Street Brooklyn, New York 11201 |
Phone Number | (718) 865-2000 |
Web Address | |
View Prospectus: | DT Cloud Star Acquisition Corp. |
Financial Information | |
Market Cap | $78.0mil |
Revenues | $0 mil (last 12 months) |
Net Income | $0 mil (last 12 months) |
IPO Profile | |
Symbol | DTSQU |
Exchange | NASDAQ |
Shares (millions): | 6.0 |
Price range | $10.00 - $10.00 |
Est. $ Volume | $60.0 mil |
Manager / Joint Managers | A.G.P. (Alliance Global Partners) |
CO-Managers | |
Expected To Trade: | 7/25/2024 |
Status: | Priced |
Quiet Period Expiration Date: | Available only to Subscribers |
Lock-Up Period Expiration Date: | Available only to Subscribers |
SCOOP Rating | Available only to Subscribers |
Rating Change | Available only to Subscribers |