DT Cloud Star Acquisition Corp completes IPO, raises $69 million By Investing.com

DT Cloud Star Acquisition Corp, a blank check company, has successfully raised $69 million through its initial public offering (IPO), according to a recent filing with the Securities and Exchange Commission. On Thursday, the company announced the completion of the IPO, which involved the sale of 6,900,000 units at a price of $10.00 per unit. Each unit consists of one ordinary share and a right to receive one-ninth of an ordinary share upon the execution of a business combination.

The newly raised funds have been placed into a trust account for the benefit of the public stockholders, with Wilmington Trust National Association serving as the trustee. The trust account was established following the IPO and a simultaneous private placement on July 26, 2024. The company’s balance sheet, audited as of July 26, 2024, reflects the receipt of the IPO and Private Placement proceeds.

DT Cloud Star Acquisition Corp, which operates under the industrial classification of blank checks and is based in Brooklyn, New York, is listed on The Nasdaq Stock Market LLC under the ticker symbols DTSQU for its units, DTSQ for the ordinary shares, and DTSQR for the rights.

The company, which is categorized as an emerging growth company, aims to leverage the funds from the IPO to pursue a business combination in the real estate and construction sector. The completion of the IPO marks a significant milestone for DT Cloud Star Acquisition Corp as it embarks on its journey to identify and merge with a business in its target industry.

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