DT Cloud Acquisition Corporation Requests Extension for Initial Business Combination Completion

DT Cloud Acquisition Corporation (NASDAQ: DYCQU) made an official announcement via an 8-K filing with the Securities and Exchange Commission on February 18, 2025. The Sponsor of DT Cloud Acquisition Corporation, DT Cloud Capital Corp., petitioned the company to provide an extension for the time allotted for the completion of its initial business combination. The extension, if granted, could potentially be stretched up to twelve times, each extension lasting an additional month. This request is subject to an additional deposit of funds by the sponsor into the trust account, as outlined in the company’s final prospectus dated February 20, 2024. The Company’s board of directors subsequently approved, adopted, and ratified the request for an extension.

As part of this extension arrangement, the Sponsor is required to deposit a monthly extension fee of US$0.03 per outstanding public share, with a potential reduction to US$0.022 per share if the Amended Extension Fee Reduction Proposal receives approval before the extension deadline, by February 23, 2025.

Additionally, DT Cloud Acquisition Corporation issued a press release on February 19, 2025. The company confirmed the postponement of its Extraordinary General Meeting (EGM) from February 18, 2025, to February 21, 2025, and the redemption right deadline was delayed to February 19, 2025. To accommodate these changes, a proxy supplement was filed on the same day to update the previously proposed monthly extension fee to $0.022 for each outstanding Public Share.

Prior to these announcements, the company had filed a definitive proxy statement on January 27, 2025, with the Securities and Exchange Commission regarding the EGM. Subsequent supplementary filings on February 4, 14, and 19, 2025, elaborated on proposals to amend the monthly extension fee payable by the Sponsor into the trust account for extending the deadline of the initial business combination.

Further modifications to the proposals and ancillary proxy materials were made through additional supplements to the Proxy Statement. It detailed adjustments to the monthly extension fee proposal, outlining a progression from the Original Filing to the Amended Monthly Extension Fee and subsequently the Second Amended Monthly Extension Fee, subject to approval at the EGM.

The upcoming EGM, scheduled for February 21, 2025, will also seek approval for the Second Amended Monthly Extension Fee, set to be effective from March 23, 2025, and continuing until the completion of the initial business combination or February 23, 2026.

Investors are advised to review the recent amendments and consult the Proxy Statement and associated materials fully before voting or making any decisions. Additionally, details on how to change or revoke votes, as well as withdrawal procedures for redemption requests, are outlined in the provided documentation.

The company has ensured that the filing complies with SEC regulations and emphasizes the importance of all shareholders exercising their rights diligently and adequately in the EGM process. Participants in the solicitation of proxies are urged to refer to the Proxy Statement for comprehensive information on the proposals under consideration.

For additional information and related updates, investors and shareholders are encouraged to visit the Securities and Exchange Commission’s website for access to all filed documents.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DT Cloud Acquisition’s 8K filing here.

DT Cloud Acquisition Company Profile

DT Cloud Acquisition Corporation does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more target businesses. The company was incorporated in 2022 and is based in London, the United Kingdom.