DT Cloud Star Acquisition Corporation Announces Pricing of Initial Public Offering

Strategic Insights -

DT Cloud Star Acquisition Corporation, a blank check company, has announced the pricing of its initial public offering (IPO) of 6,000,000 units at an offering price of $10.00 per unit. Each unit consists of one ordinary share and one right to receive one-ninth of one ordinary share upon the consummation of an initial business combination. The units are expected to trade on The Nasdaq Global Market under the ticker symbol DTSQU, and the Company expects the IPO to close on July 26, 2024. The Company has granted the underwriters a 45-day option to purchase up to 900,000 units to cover over-allotments. A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.

Key Takeaways:

  • The IPO involves the sale of 6,000,000 units at an offering price of $10.00 per unit.
  • Each unit consists of one ordinary share and one right to receive one-ninth of one ordinary share upon the consummation of an initial business combination.
  • The Company has granted the underwriters a 45-day option to purchase up to 900,000 units at the initial public offering price.
  • A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.
  • Wilson Sonsini Goodrich & Rosati, Professional Corporation served as the U.S. counsel to the Company, and Sichenzia Ross Ference Carmel LLP served as U.S. counsel to the underwriter in this offering.
  • The Company intends to focus its search for an initial business combination target on industries that complement its management team's background.
  • The Company is led by Mr. Bian Fan, the Company's Chief Executive Officer, and Mr. Kenneth Lam, the Company's Chief Financial Officer.

Sources:

  • DT Cloud Star Acquisition Corporation press release dated July 2024
  • SEC registration statement and preliminary prospectus for the IPO filed with the SEC
  • Global Data Point press release dated July 2024

Statistics:

  • 6,000,000 units were sold in the IPO at an offering price of $10.00 per unit.
  • The total offering size was $60 million.
  • The Company granted the underwriters a 45-day option to purchase up to 900,000 additional units.
  • The units are expected to trade on The Nasdaq Global Market under the ticker symbol DTSQU starting July 25, 2024.
  • The Company expects the IPO to close on July 26, 2024.