DT Cloud Star Acquisition Corporation Announces Upcoming Automatic Unit Separation

Rhea-AI Summary

DT Cloud Star Acquisition (Nasdaq: DTSQU) has announced that starting September 16, 2024, holders of units from its initial public offering can begin separate trading of the underlying securities. Each unit comprises one ordinary share and one right to receive one-ninth of a share upon the company's initial business combination. The 6,900,000 units will continue trading on Nasdaq as 'DTSQU', while separated shares and rights will trade under 'DTSQ' and 'DTSQR' respectively. Unit holders must contact VStock Transfer to separate their units. The initial offering was underwritten by A.G.P./Alliance Global Partners, with the registration statement effective as of July 24, 2024.

Positive

• Commencement of separate trading for underlying securities, potentially increasing liquidity
• Successful completion of initial public offering with 6,900,000 units
• Listing on Nasdaq Global Market, providing visibility and access to capital markets

Negative

• None.

New York, New York, Sept. 12, 2024 (GLOBE NEWSWIRE) -- DT Cloud Star Acquisition Corporation (Nasdaq: DTSQU) (the “Company”) announced today that, commencing Monday, September 16, 2024, holders of the units sold in the Company’s initial public offering of 6,900,000 units (the “Units”) may commence separate trading of the underlying component securities. Each Unit consists of one ordinary share, par value $0.0001 per share (“Share”), and one right to receive one-ninth (1/9) of one Share (“Right”) upon the consummation of the Company’s initial business combination. Those units not separated will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the symbol “DTSQU.”

The Shares and Rights that are separated will trade on Nasdaq under the symbols “DTSQ” and “DTSQR,” respectively. Holders of the Units will need to have their securities brokers contact VStock Transfer LLC at 18 Lafayette Place, Woodmere, New York, NY 11598, the Company’s transfer agent, in order to separate the Units into Shares and Rights.

The Units were initially offered by the Company in an underwritten offering through A.G.P./Alliance Global Partners, which acted as the sole book runner for the offering and as the representative of the underwriters in the offering. A registration statement relating to the Units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on July 24, 2024. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

About DT Cloud Star Acquisition Corporation

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. While the Company may pursue an acquisition opportunity in any business industry or sector, it intends to initially focus on those industries or sectors that complement its management team’s background. The Company is led by Bian Fan, the Company’s Chief Executive Officer, and Kenneth Lam, the Company’s Chief Financial Officer.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact:

For investors:

DT Cloud Star Acquisition Corporation
Bian Fan
Chief Executive Officer
Floors 1 through 3, 175 Pearl Street
Brooklyn, New York
Email: bian.fan@infinity-star.com 

FAQ

When can DT Cloud Star Acquisition (DTSQU) unit holders start trading separate components?

Unit holders can start trading separate components (shares and rights) on Monday, September 16, 2024.

What does each DTSQU unit consist of?

Each unit consists of one ordinary share and one right to receive one-ninth of a share upon the company's initial business combination.

What are the new ticker symbols for DTSQU's separated components?

The separated shares will trade under 'DTSQ' and the rights will trade under 'DTSQR' on Nasdaq.

How many units were sold in DT Cloud Star Acquisition 's (DTSQU) initial public offering?

The company sold 6,900,000 units in its initial public offering.

Who was the underwriter for DTSQU's initial public offering?

A.G.P./Alliance Global Partners acted as the sole book runner and representative of the underwriters for the offering.