DT Cloud Acquisition Corporation Announces Closing of $69 Million Initial Public Offering, Including Full Exercise of Underwriters’ Over-Allotment Option
February 23 2024 - 4:00PM
DT Cloud Acquisition Corporation (NASDAQ: DYCQU, the “Company”)
announced today that it closed its initial public offering (“IPO”)
of 6,900,000 units at an offering price of $10.00 per unit.
This includes the exercise in full by the underwriters of their
over-allotment option to purchase up to an additional 900,000
units. Each unit consists of one ordinary share and one right. Each
seven rights entitle the holder thereof to receive one ordinary
share at the closing of a business combination.
The units are listed on The NASDAQ Global Market
(“NASDAQ”) and began trading under the ticker symbol “DYCQU” on
February 21, 2024. Once the securities comprising the units begin
separate trading, the ordinary share and rights are expected to be
listed on NASDAQ under the symbols “DYCQ” and “DYCQR,”
respectively.
Brookline Capital Markets, a division of Arcadia
Securities, LLC is the sole book-running manager for the IPO.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on February 14, 2024. The offering is being made only by
means of a prospectus, copies of which may be obtained by
contacting Brookline Capital Markets, a division of Arcadia
Securities, 600 Lexington Avenue, Floor 30, New York, New York
10022, Attention: Michael Fontaine, or via email at
Michael.Fontaine@brooklinecapmkts.com or telephone at (646)
603-6716, or by visiting EDGAR on the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About DT Cloud Acquisition Corporation
The Company is a blank check company formed for
the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses. While the Company
may pursue an initial business combination target in any business
or industry, it intends to focus its search on industries that
complement its management team’s background. The Company is led by
Shaoke Li, the Company’s Chief Executive Officer, and Guojian Chen,
the Company’s Chief Financial Officer.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including the successful consummation
of the Company’s initial public offering, 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 Acquisition CorporationShaoke LiChief Executive
Officer30 Orange StreetLondonUnited Kingdom, WC2H 7HFEmail:
jack.li@dtcloudspac.com
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